Losing REO deals to cash investors!

By
Real Estate Sales Representative with EXIT Seacoast Realty Broker #9507918

Is anyone out there frustrated because you write several offers these days per buyer when you are trying to help your buyer purchase a REO property?  I have written too many offers lately and failed in getting an offer accepted, even when my offers have been over the list price!  The last listing agent I spoke to told me that she actually saw a bank accept an offer $40K less than other offers because it was a cash offer that would result in a quicker closing.  What I don't understand is why are we bailing these banks out if they are not helping the buyers who can't afford a retail sale and want to have the american dream of owning their own home?  These buyers I am talking about are also very strong buyers because they have 5-10% to put down on a house but are not getting their high offers accepted!  Is anyone out there having the same problem?  I'm sick of having to go back to my buyers and telling them that their high offer was not good enough.  Is there something we can do about this?  I wish I had that kind of cash to be able to buy a house outright.  I would flip houses now and quit my job!

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reo listings
deals gone wrong
bank owned properties for sale
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Rainer
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Mirella McDonough

Real Estate Broker/Owner
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