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Asking Price

Why do REO's post a selling price, receive qualified offer at full asking price, then aask interested buyers to set their own top dollar offer to set off bidding war?
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October 13 2012 - Santa Rosa
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Answers (4)

They only do that if there are multiple offers. It's purpose is to sell the property at fair market value.

The banks are trying to minimize their losses. What is wrong with a seller trying to maximize their value.
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October 13 2012
I agree with Craig, offer your best to begin with and if they do not accept it, move on.
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October 13 2012
It's a stupid game the asset managers are playing.  Don't play the game.  Offer your highest and best from the start and you never have to worry about it.  If your offer is not accepted, move on.
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October 13 2012
They believe it gives them the best chance of getting the best possible SOLD price. I wish they would just do an auction.
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October 13 2012
 
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