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Dealing with Banks when trying to purchase a foreclosed home?

Written on January 7, 2010

I am trying to purchase a foreclosed home. I offered the bank the asking price for the home. The banks agent has yet to present the offer to the bank. He said he waits a week and then presents all offers.
Isn’t that practice a little unethical? Is that the “norm” for foreclosure sales? How long does it usually take a bank to respond to an offer?

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Filed in: Foreclosure News.

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