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O*e
1 楼
I just learned this. The selling bank of a REO property accepted an offer at
$370k. Later on the appraisal came out as $390K. Then the bank insisted to
raise the price to $390K. Since the contract addendum on REO basically says
the bank will have no responsibility if they choose not to close. The buyer
had to agree and closed at that raised price, given the cost on search,
inspection, appraisal etc have become sunk cost. Gee, I did not know that
bank does this!
$370k. Later on the appraisal came out as $390K. Then the bank insisted to
raise the price to $390K. Since the contract addendum on REO basically says
the bank will have no responsibility if they choose not to close. The buyer
had to agree and closed at that raised price, given the cost on search,
inspection, appraisal etc have become sunk cost. Gee, I did not know that
bank does this!