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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Making Offers To Banks Posted by SeanW on June 16, 2003 at 8:35 PM In my area, 80% or more of the properties are going back to the lenders. I am thinking it might be worth spending a month or two low balling the banks right after the sale, trying to pick up properties on the cheap. (After all, if it doesn't work, I can always bid at the sale.) Would offering 90 cents on the dollar, based on the trustee's deed price, be too generous...? Or so chintzy that it wouldn't be taken seriously...? Also, since I'd have to make repeated offers to different lenders, what's a practical way to handle the earnest money to show "serious intent"? Can I deposit it to escrow before I even have an agreement? Would a statement of verified funds at my own bank be enough? Follow Ups: Buying REO's works best in a buyer's market. Ward-CA- 11:00 PM, 06/16/03 (2) Soft Market SeanW 5:44 AM, 06/17/03 (1) Re: Soft Market Lughead 9:46 AM, 06/23/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : In my area, 80% or more of the properties are going back to the lenders. I am thinking it might be worth spending a month or two low balling the banks right after the sale, trying to pick up properties on the cheap. (After all, if it doesn't work, I can always bid at the sale.) : Would offering 90 cents on the dollar, based on the trustee's deed price, be too generous...? Or so chintzy that it wouldn't be taken seriously...? : Also, since I'd have to make repeated offers to different lenders, what's a practical way to handle the earnest money to show "serious intent"? Can I deposit it to escrow before I even have an agreement? Would a statement of verified funds at my own bank be enough? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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