Office property foreclosure

4 Replies

Hi guys, I am going to make an offer on an office property that is currently bank owned. Any tips in terms of seller motivations that are different with banks than dealing with a normal sales process?

Bank that owns the property is a public company, but smaller in size.

Thanks

@Wayne Brooks

I am still trying to buy this property but I am off in price. It seems like the bank/receiver is in the property for 2mn, but I am at 1.8mn. How much pressure does the bank have to sell an asset off their balance sheet? Was wondering if they can keep the asset as long as they want or if they are forced by some regulations to get rid of an asset by some set time frame. Any other thoughts on how to make a deal?

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