Knock, knock, whose there? I don't think it is the asset manager.
How many of you have seen this trend? Submit an offer for an REO property, and wait. Some offers have taken 6 weeks to receive an answer. On the average it is taking 2-4 weeks to receive and reply. Just wanted to know if this is an local problem in the Milwaukee area, or nation wide.
Residential, Investment properties, rehab projects, property management, luxury homes, new construction! - Katy, TX
Broker, Katy, Houston, Cypress 77450,77494,77095
What I find is that when I put an offer on an REO property that has been sitting for 130 days, the day I submit my offer, suddenly I'm told, it's FINAL AND BEST with multiple offers in hand! It's happened a half dozen or more times in the last two months and it's not really believeable.
Most of our REO answers DO come quickly though...but not short sales.
May 25, 2011 10:45 AM
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease
Dennis,
Just had an REO offer take 15 days to negotiate with no other bidders but us! Delayed my buyers plans for closing two weeks! Kind of mind-boggling.
All the best, Michelle
May 25, 2011 10:55 AM
Berkshire Hathaway Home Services California Properties - San Diego, CA
Just as in your area there's no consistent response from any of the banks. The only ones that seem to be doing a better job area old Wachovia loans. They seem to have their act together.
May 25, 2011 11:54 AM
Rainmaker
225,469
225,469
Dennis Herman
Dennis Herman
Real Estate Resources
Recent Posts
ActiveRain Community
about 1 year ago
ActiveRain Community
about 1 year ago
ActiveRain Community
about 1 year ago
Variable Rate Commission Schedule
Call for details.
Using the latest technology to buy and sell homes and Real Estate in Sheboygan, Fond du Lac, West Bend, Menomonee Falls, Milwaukee, Germantown and all of Southeastern Wisconsin. With this business climate you have to constantly search for time saving ideas making transactions easier.
Comments(3)