Tell me about the Feds -
A common scenario I find is this:
1. Fannie or other property is listed for sale.
2. It sits unsold for some too-long period of time.
3. I make an offer.
4. My offer is accepted.
5. I am informed that there are suddenly multiple offers so I must submit a 'highest & best'.
This all has a funny smell to me. I am supposed to believe that the property sits there idle for months until I take notice and then what? My fan-club members all jump on the bandwagon and make offers too? "Oh! If Stevie wants it - it Must be good - let's bid on it too!" <g>
How does this thing work? What goes on behind-the-scenes? Does anybody have a handle on this kind of thing?
stephen
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