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REO Properties: Are Asset Managers Predictable (in any way) in Negotiations? Part II
If the previous installment of 'Are Asset Managers Predictable...' was heading out into the land of unreliable assertions, this entry will jump with both feet into that environment.
We can see that the behavior of most Asset Managers is predictable because the asset managers' latitude in the decision making process is quite proscribed. There are guidelines for interpreting guidelines. I often describe the way asset management companies conduct the business of selling real estate as "Imagine the DMV (State Department of Motor Vehicles) goes into the real estate business".
All of the individual initiative and case by case flexibilty and none of the accountability that is demonstrated in the functioning of most governmental agencies.  But I digress...
The inclusion of contingencies in Offers on bank-owned properties is quite acceptable provided it is understood that the properties as being sold in an 'as is' condition. (In fact, there will most likely be a page or section of the counter offer/addendum from the bank to that effect.) That being said, you can include an inspection and mortgage contingency in an Offer. And the Seller will (usually) respect that contingency. And it goes a long way to protecting your Buyers interests.
As to the ... more

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