Friday, July 3, 2009

Jacksonville REO Market

I just had to share this story. My buyers and I found a fabulous house on Monday afternoon. We wrote up an offer for the lender and sent it to the listing agent. This is a bank owned, foreclosed home that has only been on the market for 10 days.

Would you believe that we got a counter offer from the lender THE VERY NEXT MORNING? We couldn't believe it! We immediately countered and sure enough, before noon the next day--we had a counter to our counter!! And then, phooeey. The weekend got here so they gave us until noon Monday to sign the counter to our counter offer! Guess what? We're going to counter again! We are so close! I think we may wrap it up by Tuesday at lunch.

I still can't believe the fast response. We still have a few "issues" we have to work out with them, but I'm confident they'll see the value of the offer we're presenting to them.

FORGET SHORT SALES. They can take (literally) 4-6 months to even get a response to your offer! I've decided that foreclosed properties are the way to go.

Call me today and I'll find you a foreclosed home to look at too! We can probably close in 30 days or less!

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