Six weeks ago we put in an offer on a REO that was about to go to auction with Hudson & Marshall. The bank countered back dropping about 6K; we countered their offer by increasing 1K; they dropped another 2K but then held firm. The property went to auction but did not bring the number the bank wanted, so Hudson & Marshall put it at "post auction" bidding. We tried bidding again, but to no avail. We then received a call from the auction co. & they negotiated a purchase price with us ... we agreed, sent in the contract with a $ 2500 earnest money deposit; thinking it was a done deal ... boy were we wrong; Jill noticed it was again on the Hudson & Marshall website for "post auction bidding." Even the REA didn't know what was going on, after another week we received an email that the bank was accepting our offer.
It just goes to shows PERSISTANCE pays off !
Six weeks ago we put in an offer on a REO that was about to go to auction with Hudson & Marshall. The bank countered back dropping about 6K; we countered their offer by increasing 1K; they dropped another 2K but then held firm. The property went to auction but did not bring the number the bank wanted, so Hudson & Marshall put it at "post auction" bidding. We tried bidding again, but to no avail. We then received a call from the auction co. & they negotiated a purchase price with us ... we agreed, sent in the contract with a $ 2500 earnest money deposit; thinking it was a done deal ... boy were we wrong; Jill noticed it was again on the Hudson & Marshall website for "post auction bidding." Even the REA didn't know what was going on, after another week we received an email that the bank was accepting our offer.
It just goes to shows PERSISTANCE pays off !