All Forum Posts by: Melissa G.

Here's where I am at now. It turns out the house went to auction and no one showed up. My realtor chalks it up to being a rainy day and they had a very high min. bid.

The redemption period is set to expire this week and the property will be listed with another realtor.

We tried to circumvent the usual process of the house being listed through an REO broker, but we were shut down.

Can anyone tell me about dealing with PAS? The listing realtor says the property has to be listed for 5 days before she can submit any offers. Is this true?

Because I'm interested in this house for myself and it's not a flip, I'm planning to offer more than the asking price and I have cash ready. The offer is contingency free. I was going to submit my offer the day the house was listed, but if there's a 5 day waiting period, then I guess I should hold it until day 5. I don't want the realtor shopping my offer.

I've been in a similar situation, and still have questions, but one thing I have learned and perhaps it may be true in OH as well is that the listing agent must list the house for 5 days before any offers are submitted to the assest management company.

I had tried to get my offer in before it went to an agent with no luck. I was very naive. I thought the bank would be willing to sell the house for their asking price before listing it with an agent -- that way they wouldn't have to pay commission.

I'm interested in hearing what more experienced investors/buyers have to say. The redemption period on my house of interest is up this week.

Thank you for the help. We know who the bank is, but they have a law firm handling the home. We have been in touch with that law firm and they are the ones who have our contract. Should we be contacting the bank as well? Also, how can I find out what the bank bought the property back for?

I need a little help with the REO Process. I've learned about a home that has been bought back by the bank. It's my understanding that there is a 90 day waiting period where the homeowner has the opportunity to buy the house back and that a contract can not be accepted until that time has passed. We know what the bank will be listing the house for and are prepared to pay the full price without contingencies and have already sent in a contract for the home. Should I be expecting the trustees to hold our offer to see if there is someone willing to pay more? I don't know if there's anything else we should be doing to increase our chances of getting the house.