All Forum Posts by: Joe H

It;s REO, the auction is Hudson and Marshall. Put in an early bid, will see how it goes.

I'll get over it, I know.

Just strange, I guess I don't understand. At auction, will the bank not have to approve any offers? The agent is telling me to put in an offer there, but with the 5% fee I'll just bid less. Doen't seem like there's much point. Whay am I missing?

Could they be worse?

I'm sure they could be, but right now I'm pissed! Found a Fannie Mae house we liked, needed total renovation, but was just what we wanted. On the market since March, they reduced the price $10,000 last month. Placed a cash offer last week, good earnest money, fast closing. They came back with a request for Best and Highest with multiple bidders. So we placed another offer, about 500 over the listing, same cash 10% earnest, etc. Found out today it's going to auction! Huh? What a disappointment. And what abuse of the tax dollars. Everything I read seems to prove they couldn't care less about unloading the properties. Grrrr.