Dealing with REO and BANKS

[dkeith]

Aaron,
I just sent you docs.

[REO]

David,
Are you emailing your package to the Bank's listing agent or to the seller direct? I'm assuming to the LA, since most of the larger mortgage servicers use asset management companies to market their assets. I like the email idea, no one utilizes that in my area. And, is it Michigan law you have to submit a agency disclosure with your offers? Just curious, we do not have that requirement in FL.

thanks

[dkeith]

I email the offer to the listing agent, seller or bank. Whomever I'm dealing with. Yes it is MI law that we have the agency disclosure.

[beavism]

Thanks David, I'll take a look.  I appreciate the help...

Aaron

[moellerryan]

Banks will never work within your timeframe.  We have received excepted offers on 75 day old offers we forgot about and they suddenly want us to perform in the next 15 minutes.  It is just the way banks work.  I recommended accepting it, embracing it and continue to write offers.

[bfisher88]

Right, the banks pretty much work on their own timeline. I had an offer go in to the bank that expired within 72 hours. They came back a week later with a response so they really do not care about what timelines you are on and put into the contract.