Upcoming Foreclosures

foreclosures offer $5,000 over mine will I be able to counter?

let's see if I can make this more understandable.The property in question is a bank owned REO, located across the street from where I live prior owners best of friends but let it go. (they walked) I went as far as to buy in auction (they wanted to much) didn't sell. apx 2 month later the house went on the marhet as a bank owned foreclose priced at 60% under loan balance. ie $429,000 loan -- real estate listing price $259.000. ok here's the issue we put a offer in at $260.000 the day before it was listed in the MLS (no contingencies) basicaly we told the bank (in the offer) that we would pay almost all closing cost 20 day escrow. the next day the property is being shown by the listing office and I over heard them say that there is an offer in at "over list" and the buyer asked what would be a good offering price the listing agent said $265.000 maybe a good start. (please note I was in my yard and they where by there cars in the street so it was very easy for me to hear this and they had no way of knowing I had put an offer in the prior day..the agent knew that my offer was there they are not going to allow there potenticial buyer put in an offer knowing it is under what has already been submitted they want to make the sale so where is the ethics here. footnote to this: the listing office knows what the offers are and nobody is going to show a property and let there clinents put in an offer under what has been submitted they don't work for nothing. and they only way they get paid is by selling property not showing property. Do you think the bank will counter my offer along with his and ask for a "best and final" my agent said they will what is your opion thank you have a great holiday

Public Comments

1. You should be given the chance to counter.