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Old 09-26-2018, 01:19 PM   #68
Travis Munroe
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Quote:
Originally Posted by GullFoss View Post
Who decides whether to accept, reject or counter an offer that comes in on a foreclosure listing?
It depends. On a bank-owned foreclosure, an offer usually goes to the listing realtor who really doesn't even look at the offer. They forward it off to whichever department of the branch is reviewing offers. In short, someone at the banks head office is calling that final shot.

In a judicial listing, there are many different scenarios which usually start with submitting offers to the banks lawyer. The lawyer decides if it is worth scheduling a court date to put the offer in front of a judge for a final decision. You can also enter a scenario where you submit sealed bids but that is a bit of a different process.
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