Paying for Risk Avoidance When Home Buying!
By Gene Riemenschneider, Turning Houses into Homes
(Home Point Real Estate)
One of the most frustrating experiences for buyers is when they find a great home at a great price. Frequently these are Bank Owned Homes priced low to attract multiple offers. The bank gets multiple offers then sends out a multiple offer counter asking each potential buyer to put in the highest and best offer they can. Buyers love the thought of getting one of those cheap Bank Owned Homes, but when there is a low priced high quality home everyone sees it. There is no secret or special deal and this is the part buyers hate. They want the property, but they do not want to pay a dime more for it than they have to. They ask me what they should pay. I can only tell them what other house like that are selling for, what the current market it like, and provide them with a little psychological ...