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Updated about 7 years ago,

Jenny Gremillion's profile image
Jenny Gremillion's profile image
Jenny Gremillion
Pro Member
  • Investor
  • from Covington, LA
  • Member since Apr 8, 2016
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51
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12
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Jenny Gremillion's profile image
Jenny Gremillion's profile image
Jenny Gremillion
Pro Member
  • Investor
  • from Covington, LA
  • Member since Apr 8, 2016
Connect
Jenny Gremillion
Pro Member
  • Investor
  • Covington, LA
12
Votes |
51
Posts
Foreclosures

"Buyer Premium" Added to Sales Price?

Jenny Gremillion
Pro Member
  • Investor
  • Covington, LA
Posted

Hi,

We are in Louisiana and made an offer on a bank owned property yesterday.  Our bid was $157k but they added a 4.5% "buyer premium" to this plus a $250 fee.  Weird.  Do you think this is to pay the agent? And did the agent set this up or do all banks operate this way for bank owned properties? Thanks!

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