Is anyone else having serious problems getting listing agents and banks to respond on offers for bank owned properties?
Twice, with two different offers, different banks and different listing agents, it took over 2 weeks to get responses. Some of this was due to the banks, but most was due to the lack of attention by the listing agent.
Both times, it was near impossible to talk directly with the listing agent. I was religated to assistants that didn't return calls, assistants that could not discuss anything without talking to the agent. These listing agents are playing numbers. They get a large inventory of bank owned listings and know that the numbers are on their side and something will sell.
Well, how about paying some attention to the buyer trying to buy the property. What has happened to "time is of the essence"? Pay attention, respond to offers (in a timely manner) and maybe you will serve your client (the bank) better.
Note: Another thing I am seeing is that banks are refusing any offer that is VA or FHA. They are afraid of the property condition failing to pass the FHA appraisal. Consider using the FHA 203K Renovation Loan structure.
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