foreclosure buyers: What to Offer on a Bank Owned Home Expecting Multiple Offers
- 02/28/09 02:41 AM
The Northern Virginia sales market has been dealing with an abundance of buyers all seemingly competing for bank owned homes. REOs (as bank owned homes are called) are far preferrable to short sales to buyers who would simply like an answer to the question, "Was my offer accepted?" So in our market, REOs are dominating. All the buyers are lined up to make an offer. I'm not kidding when I tell you that I visited an REO last weekend that was just listed. I met a buyer's agent on her way out as I was on my way in. On my
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