Curious as to all of the banks stipulations etc etc - Are not the buyer's RE Agents supposed to to these beforehand? Seems like just a checklist to tick off. Also seem like I could be wrong🤣
Yes a good buyers agent should be trying to protect their buyers from these as much as possible. The challenge becomes that often banks won't accept a contract without specific conditions like I mentioned in the contract.
Good info. Lots of scams. Broker friend said in our city banks holding onto many. Third parties incl Acctg firms paid (well) for admin of them until told to sell. Also held/sold based on value, o/s loan etc.) and market conditions…incr or longterm flat/ drop is high prob. Maybe diff per city.
I was looking at a CMHC foreclosure back in 99/a nice condo unit but bough another one. I have always wondered how low they would have gone from the listed price if I put in an offer. In my mind time was money for them
