Bidding on bank owned properties
Besides bidding on bank owned property listed on the realtor’s MLS some new investor’s will attempt the purchase of real property by putting in bids and offers on short sales. Bidding on these bank owned properties is really a waste of time because the investor will go back and forth with the bank. Bidding on short sales means you will could wait on an answer from the home’s asset manager for up to three months. There is also alot of paperwork involved in the purchase of a short sale. It is much easier believe it or not to make offers on properties listed on the realtor MLS.
