So today my coworker was telling me about an investment property that she bid on. They bid just below the asking price. They put $5000 down on a bank owned property and waited about five months to see if the bank will except their offer. It turns out after that time the bank notified everyone that put in a bid on the property and said they were not excepting any of the offers. Then she found out the bank raised the price by $20,000. Have you seen something like this happen before an empty lot at his bank account? Is there a reason why event would raise the price by so much after not excepting any offers?
That’s pretty interesting. Makes me wonder if there is more to the story. Sounds like it was a sale, not an auction, so a reserve price shouldn’t have been an issue. If the offered just below asking, you’d think the bank would have taken it.