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18 Offers On This Little Bank Owned Home!

By
Real Estate Broker/Owner with Realty Works Temecula BRE No: 01233850

This one little home in Moreno Vally has 18 offers....and has been on the market for 80+ days, and has fallen out of escrow 3 times already!

(Listed at $139,900).

Why?   Because the banks want to sell to owner occupants and for one reason or another they cannot qualify!

My cash investor thinks that it just has not had any offers and the bank is foolish for not accepting his cash offer of $120,000.00.




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Temecula Real EstateContact me for information regarding Homes in Riverside County, Real Estate in Southwest Riverside County. My office is in Temecula, and I specialize in selling homes in the Murrieta and Temecula,  Wine County, De Luz, La Cresta, Bear Creek, Murrieta, Wildomar and Menifee, Canyon Lake, Canyon Hills, Lake Elsinore areas!  Listing courtesy of cal pacific. 

Jane Grant, Broker of Record - DRE 01109492
Southwest Real Estate

 

 

 

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Comments(5)

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Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Jane,

That might be somekind of record... at least to my memory.

Good speed with your buyer,

Steve

 

Sep 25, 2011 01:32 PM
Ellen Crawford
Maximum One Executive REALTORS® - Alpharetta, GA
Alpharetta Real Estate Agents & Alpharetta REALTOR

I think the bank is foolish for not taking the cash deal!   Sorry that is what happens when a clerk at a bank has to make decisions!  I like the old saying, "A bird in the hand is worth two in the bush!"

Sep 25, 2011 02:07 PM
Debbie Walsh
SHAHAR Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

I see this kind of thing all the time and it never ceases to amaze me.  I don't know how they come to these hair brained decisions sometimes.

Sep 26, 2011 03:09 AM
Erika Rogers
Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage - Saint George, UT
St George Utah Real Estate & Relocation Specialist

Jane, this happens here all the time too!  I'm with Ellen, why can't the bank see the advantage to taking a cash offer from any type of buyer than holding out for an owner occupant???

Sep 26, 2011 04:20 AM
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Your investor cash offer of 120k seems pretty close to their asking price, here in Manhattan 20k off the asking price is almost always an excellent offer.  Naturally every geographic region is going to do deals differently, the bank must not want to sell that home.

Sep 27, 2011 02:49 AM
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