10/07: Purchasing a Bank-Owned Home

Question:

"The banks are playing a game in an effort to get the most they can for their foreclosed homes. They list the home for a ''lower than they will accept'' price, in order to get a lot of traffic through the house, and multiple offers, sometimes with a second round of bidding. I have unsuccessfully attempted to buy 4 bank-owned homes, always offering the asking price or more. The last offer we placed equaled the asking price, but instead of accepting the offer, the bank rejected, and then lowered the price of the home $8,000, to get more people to come through the house and to get more offers. Is this legal? Can they NOT sell us the house when we are, at the time, the only one making an offer ... and we met their price? This feels like discrimination."




Comments

refadmin wrote:

I plan to write an article addressing this interesting legal issue, but it may take some time. If there are readers out there who know the answer to this or have any useful information to provide this inquirer, please post it! Thank you in advance.
10/07 16:33:51

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