Don’t buyers have any rights?
By Aaron Kelly, Realtor - North Orange County
(RE/MAX of North Orange County)
Almost all of the offers that I have been writing these days are for bank owned foreclosures (REO). I've noticed that one of the ways the listing agents are sifting out some of the multiple offers (that sentence alone indicates how hot the market is right now) is by making the potential buyers jump through a lot of hoops. I still remember the look on the face of one of my colleagues when I discussed the fact that there were 70 offers on a property and the highest bids were about $70,000 above the listing price. I had a buyer that was interested in making an offer but he backed away when he heard how many offers were on the table. My colleague (and the 68 other agents) on the other hand had to go back and tell their client that the listing agent was just wasting everyone's time by pricin...
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