UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: gsgreen Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 13953  
Subject: Re: Buyer's Premium on Bank owned home? Date: 1/9/2013 9:03 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Sounds to me like the "bank" is treating it like an auction, and that somewhere in the background is one of the government alphabet entities (GNMA, FHA, HUD etc).
Guessing that you are not the only offerer and you can shortly expect a response asking for your "best" offer.
If I'm correct (I once was......), you need to start reading every piece of paper even more carefully than you might otherwise. There will be a large number of conditions and traps that crop up after the offer is "accepted".
Also, there is no decision maker on the other side of this transaction with skin in the game.
While there are certainly good deals to had in the repo market, it is a market to go into with eyes very wide open.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Berkshire Hathaway

IBM: Is Buffett Wrong, or Brilliant?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement