Tips to Getting Your REO Offer Accepted
1 – Prepare you buyer of what may, or may not happen
2 – No matter what the MLS says, CALL the listing agents office and ask for status
3 – Ask if there are any addendums that need to accompany the offer (ex.CW)
4 - Ask if the Bank requires an approval, or verification of approval from someone specific. (ex, Wells, Indymac, CW)
5 – Ask for turn around time with the specific bank
6 - Complete the GLVAR contract and addendums in full – do not leave out anything
7 – Follow up with the listing agents office to make sure they have everything you sent
8 - Follow up to make sure it was complete, and submitted to the bank
9 - If you get countered – relay the counter to your buyer, accept or counter the counter the same day.
10 – If accepted – fax back the acceptance, or have your buyer sign the bank addendums – return the same day.
11 – Deliver originals to the listing agent, with earnest money check – ASAP
12 – Follow up with the listing agent until you get signed addedums from the bank