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Updated about 11 years ago on . Most recent reply

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Jacob Patterson
  • Real Estate Investor
  • Woodstock, GA
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How do you put pressure on a bank so that they do not sit on your offer?

Jacob Patterson
  • Real Estate Investor
  • Woodstock, GA
Posted

I am a relatively new investor and I just put a offer on a REO home. My offer was a cash offer, slightly over list price, with 10% earnest money, no contingencies, and within a few days of coming on the market. My question is how do I make the bank feel pressure to accept my offer vs just sitting on it for a few days or weeks trying to get a look at other offers?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

You can't, as they know they'd be foolish to just accept the first offer that comes in.

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