Originally posted on the Big Bear REO Blog. 

Anybody who has purchased a home knows how stressful it can be and how much more stressful when the other party in the transaction seems to be fighting the sale as much as pushing for it. 

There can be many elements of a real estate deal that upset the seller.  Low ball offers and multiple counter offers are two of them.  It can even turn into an "Us vs.Them" competition with the sellers letting their emotions and ego's cloud their judgement. 

What if you could take all the emotion away from the seller?  Would that tend to smooth out the buying process?

Well you can do exactly that by dealing with bank or lender owned properties....

The reason there is no emotion for the seller with a bank owned property is pretty simple; the person you deal with didn't buy the property so they have no real emotional investment in it. 

They didn't paint the bedroom, build the deck, remodel the kitchen or even pick the neighborhood.  They have no tie to the property other than the fact that it's in their books and they want it off.

They generally look at every offer with one very simple thing in mind, the bottom line.  They won't get upset when you start the negotiations with a "low-ball" offer.  They probably won't get frustrated sending multiple counter offers back and forth and may not even blink when they receive an offer from the same buyer that didn't "step up to the plate" a month ago on the very same property. 

In fact, they may even give the buyer a more attractive counter the second time around. 

Its a given when you see a bank owned property that the seller is motivated and more likely than not, taking their Realtor's advice. 

The banks realize who the experts are and hopefully pick a Realtor that is going to price the property at or below current market value.  The bank is not going to try and get that extra ten grand for the "Peek-a-Boo" lake view you can see from the bathroom window if you stand on the toilet ;) 

They seek out the advice of an experienced Broker and simply go from there...

So until they make a pill listing agents can give to their clients to remove emotions and egos and get their clients to listen to their professional advice, do yourself a favor and look at some Bank Owned Property (REO's)

Until next time...