John Mayer's Real Estate Blog: Dealing with BANKS!!

Dealing with BANKS!!

List, Buy, Sell

I am so tired of dealing with BANKS!! It doesn't matter if it's a short sale or a foreclosure, banks are a pain in your wallet. They take their sweet bailed out time, respond whenever it suits them and exhibit varying degrees of incompetence depending upon which department you're dealing with. OK, I'm done ranting.

Banks are making their own rules these days, out of the hands of listing / buyers agents. I recently submitted an offer on a foreclosure and at that time there were no other competing offers. The next day, the listing agent said there were now multiple offers. Two days after my buyer's offer had expired, the bank told all parties to submit their highest and best once again. In effect, they were trying to create a bidding war and my buyers were reluctant to play. How exactly did they get their bailed out butts back in the drivers seat? As always, I will work through adversity and hopefully my buyers will increase their offer and get the home they really want. If not, there are many more homes for them to choose from here in Florida and if this offer isn't accepted, I may be showing a lot more of them. BTW - This was the fifty-first home I showed them in 3 months. A Realtors job is never done!

 

Comment balloon 3 commentsJohn Mayer • February 10 2009 10:20PM

Comments

It's amazing that the biggest money losing area of the banks, real estate, seems to have the least competent workers.  The CEO should set up his office in the middle of loss mitigation to see what really goes on.

Drew

Posted by Loan Survivor Real Estate Financing Expert (Purchases, First Time Buyers, Pre-Approvals, Refinance) over 10 years ago

Banks need to be made to follow the same laws, rules, guidelines and practices that the rest of us follow. (in my humble opinion)

Posted by Maria Morton, Kansas City Real Estate 816-560-3758 (Chartwell Kansas City Realty) over 10 years ago

John -

And, even today - it's not getting any easier!

Still haven't found which definition of "Reality" many lenders subscribe to!

Keep patient - although, I, as you, know how difficult that can be!

DEAN & DEAN'S TEAM CHICAGO

Posted by Dean Moss, Dean's Team Chicago IL Real Estate Team (Dean's Team - Keller Williams Realty Partners Chicago IL) over 10 years ago

Participate