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Old 06-21-2007, 08:40 PM
 
1 posts, read 2,383 times
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I Found A Bank Owned House In Bartlett. And Made Bid On This Property.. After Contract Was Sent To Ofc .. Agent For Property Said They Are Not Going To Counter Back Till The Bank Get An Apprasial .. What I Want To Know Is, Is The Normal? Because The Property Is Listed With An Amount On The Web..

Does Anyone Know About This Or How Forecloseures Work When Bidding?
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Old 06-21-2007, 11:32 PM
 
201 posts, read 1,071,082 times
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During a recent discussion with my real estate agent, she mentioned that although foreclosures are in record numbers, banks are not willing to negotiate very much and will not sell below the appraisal. Was your offer significantly lower than the asking price? Perhaps that is the reason they are getting an appraisal before accepting.
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