Can you describe the offer process used to sell properties displayed on the reoSource web site?
Bank-owned properties listed on the reoSource web site are being sold through a competitive offer process in which offers are submitted electronically to the bank for evaluation and review. The bank will submit a reply (counter-offers and/or accept/reject notifications) back to the listing agent who will communicate the response to the prospective buyer. Please note that banks frequently receive multiple offers on the same property, which may require additional time to prepare and send a response. >ReoSource does not guarantee the timely delivery of this notification; ultimately, it is the buyer’s and the agent’s responsibility to check the status of their offer with the listing agent. back to top Q: After I submit an offer, how is it evaluated?? A: The lender primarily evaluates offers based on the net funds received by the lender after deducting the selling agent’s commission. In general, the lender will accept the offer with the highest net amount. Notwithstanding, the lender reserv
