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Should I re-offer on an REO after being turned down at a Similar Price?

By
Real Estate Agent with Fine Island Properties LLC RB-21124

We are finding that REO lenders will indeed look at close offers and that if you have been turned down for a purchase of an REO property it is wise to re-offer again soon. 

That being said we find that most times an REO Negotiator would have actually countered your offer to begin with.

Even in a Short Sale we closed recently the lender countered back much higher than the buyer wanted to pay and when the buyer didn't "re-counter" the negotiator actually reached out and asked the buyer to submit another offer.  The buyer ended up offering only slightly higher than the initial offer and that offer was approved.

It seems like in today's REO and Shortsale market (at least on Maui) the rules can change just about daily.  So we do recommend persistence and patience.

Aloha, Gina

Fine Island Properties Team of Keller Williams Realty Maui

www.FineIslandProperties.com

 

 

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