Bank negotiating tactics

3 Replies

@brandon turner

@bill Gulley

@jon holdman

@j Scott

So I put an offer on a bank owned property and was told there are multiple offers and to submit my best and final.  To note, this wasn't one of those hold offers for 10 days, it has been available for a while and is about to go to auction.  I have been told this on every bank owned purchase I have made an offer on and got the last one increasing my bid 5k.  My initial thought is to not bid against myself and stay where I am at, but if I increase my bid to what I would be willing to pay, I have no regrets either way.  Thoughts?

yes, that's what they all do no matter if they have offers or not. you should stick to your guns and stay with your final offer.

btw, maybe i should not answer since you tagged specific people hoping that they'd chime in. so maybe my answer is unwanted. are you trying to exclude the rest of the posters from the conversation? if so, you can PM them instead of starting a thread.

You probably didn't mean it this way, but it looks strange when you are tagging 4 specific posters.

thanks for the replies.  @George p., just linked a few people that have responded w good advice to other posts, it's in the forum to get the conversation started.