I talk with more and more clients who are just fed up with submitting offer after offer on bank owned property only to get no counter or information back from the listing agent. It seems that many brokers are double siding their listings, meaning that their accepting offers from their own buyers agents keeping the transaction in house, thus increasing their overall commission. I have seen this scenario many times, and its truly frustrating for buyers and their agents.
This brings up the importance of using a well seasoned agent that knows how to negotiate short sales, despite their lengthy process, purchasing a home for less then the sellers mortgage not only helps the buyer get a good deal, but allows the seller to discharge debt they can no longer afford. I encourage buyers to look to short sales, maintain patience and trust their agent. Its a great market for buyers, take advantage while its available!
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