Upcoming Foreclosures

Understanding foreclosures and banks?

We scheduled to look at a bank owned property tomorrow at 5pm. The realtor working with the bank told my realtor they were looking to "get rid of it" and wanted a quick sale. The bank put it up for auction, but had no bids. They have owned the property since June 2007. Mysteriously there is another couple looking at that same house tomorrow and asked if we could view the house at 5:30 instead. Is this the banks way of making it seem that someone else wants it so we'll offer more money, or are they being honest? Please HELP!!

Public Comments

1. Sounds like a realtor trick to me.
2. yea, sounds like crap. Tell them you can't make it at the other time but you don't mind seeing it with the other couple at your original time. Watch them swallow their tongues on that one.
3. There's no way of knowing for sure. You can offer what you want to offer - if someone else offers enough for the bank to accept, then you'll know that it was not a trick.
4. Ask your realtor what is going on, you had an appointment, if there is another couple usually they allow more than 1 couple through the house at 1 time. Tell the bank no, you have the 5pm appointment and should not move your time for an unknown set of people. Invite them to view the house at the same time you do, then you'll know if there is really another couple & you can judge if they are truly interested in the house.
5. If you don't decide to make an offer, who cares? Look at it first before you worry about that. If you decide you'd like it, make an offer based upon what you are willing to pay. If someone else overbids you, it's not like there's any shortage of others. Oh, and I'd fire your agent, if I were you. If they had any kind of clue, they'd have told you this