All Forum Posts by: Jean B

Thanks for all the info. I guess it just takes patience, something I need to practice. LOL.

Going to make my first offer to Well Fargo on a place I would like to live in. They have it listed almost double of what is owed, 56% more to be exact. I was going to offer cash, about $10K over what is owed. Thoughts? I guess I am dreaming..LOL. It took them almost 2 months to even get a price on the darn thing. Anyone have success with lower then asking prices with Wells? Thanks for letting me vent.

Hi Steph,
Thanks for responding. Frustrating and painful for sure. I am just trying to get a price so I can either keep trying on this property or move on. To me, it seems the this past week prices are going up. Why I can't figure?? Did you find, with your deals, that the banks (REOs) are trying to obtain a high market value? The home I am trying to obtain has a mortgage of $65K so I am not sure what they will list it for. I was hoping to bid a little higher than that, to lock it in.

I guess I need to get another dose of patience.

My goodness. You would think the banks or their rep's would be happy to get an offer. If it is low, so be it...say thanks, but no thanks. I would think some folks out there that have the dollars will buy at a decent price. But those looking now are not fools. We have seen what the past has done. Sigh. Thanks for letting me vent.

I have been trying to findout the price of a REO since 8/13/08. Yesterday, I passed the home and a sign was out front advertising it. I again called the agent, and again was put off stating call in 3 to 5 days. We have no appraisal yet. I mean, shezz Louise. How long does it take for them to get an appraisal?? I have been checking sites and it seems in the last few days, since the $700 Billion dollar bailout, the prices on some homes in foreclosure have jumped dramatically. I would have thought the prices would go down, but who am I?? Does anyone have any experience with waiting for weeks to get the banks price/appraisal??? Thanks much.

Trying to purchase a reo for my own home. Interested in one, but it seems like it is taking forever for the owner/bank to get an appraisal on the books. Keep checking Zillow and have called the listing agent but she keeps telling me not yet. Also agent says the first appraisal will be high, so I get the feeling she wants to just blow me off. I was interested in another, went to the auction, but it went for higher than I felt the house was worth. Input from others with more experience is appreciated. Color me inpatient I guess. :roll: