Good luck with it Chantal. I feel like there are a lot of buyers just itching to make a move, but the everyday news about gas prices, the economy and job losses are causing them to sit tight. Sooner or later there is going to be a flood of buyers in a lot of markets.

Congratulations Chantal that's great news and it would be very surprising if the bank turned down both offers or at least respond with a counter.  

I am curious to know if you are representing either of the buyers who submitted an offer?  I sold a REO and I advised my buyer to submit a low ball offer.  Apparently the bank was not as desperate as we figured because they countered.  All in all my buyers got a great deal which corresponded into over $30K equity.  By the way we're in Arizona.

I have begun working with several asset managers and hope to begin listing REO properties soon for the interim our office is busy processing BPOs.

Also, I agree with Gary in reference to buyers and their mindset.  The key to anchoring buyers is to target the group, to convince buyers that we've pretty much hit rock bottom prices and to take advantage of the current market deals.  In addition, we have to keep our eyes and ears open.

I found my last buyer at a local laundry mat. While posting copies of my listings on the board I over heard a my soon to be client discussing home buying and of course I jumped in the conversation.  A month and a half later they we closed escrow!

Well Chantal, I am sure everything will go well but please keep us posted because I am curious to know the outcome

it's amazing when you list something at what the buyers think is market value you get a lot more activity than when the sellers put the LIST PRICE on a property.

We should have the buyers do our CMA's for us. The buyers don't usually selct the highest price home in a CMA BUT the Sellers do, that's probably why we could be off 10% or more when they list it.

:-)

CT Listings at http://realtybydan.com

Chantal, good luck with your sale.  Out here Banks know our market is good so they don't even look at offers unless they are close to the asking price.  We end up with multiple offers (usually 5) on most REO's.  Lately I would say that REO's are a pain in the backside.

Congratulations! Hopefully, the buyers you received out of that deal will continue to work with you so you get more.

I've found that the faster I sell the properties the more listings I've gotten. I've only been doing the REO's since last year so I consider myself lucky. Each home has closed in less than 45 days so I feel real blessed with more listings especially since I don't have many buyers. I just can't get more than one home on the market at a time!

Hopefully the bank will give you more listings so you can keep your flow going!