Last week I had one of the most successful Realtors in my county submit a bargain basement offer on a really nice as-is REO. Two weeks later the as-is price is up for re-negotiation prior to contingency release. In comes the back-up offer that would do anything to get the property two weeks ago. I call them to give them the good news, and they are in mood to re-negotiate their original offer. And the third offers is the charm, not! The person in third position actually stated "I will pay $50,000 more than asking price if there is anyway to boot the buyers in front of him". What a difference a week makes. The third position replies that we must be desperate if we are calling him, and he would like to lower his original offer 25%.
Three offers, and all intended to offer a higher price in the hopes of negotiating the price down under the guise of a bad market. I guess that the tactic is to get the property at any cost, and hope the asset manager just wants it off their desk enough to give you anything they want. Sometimes that works!
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