On Monday afternoon I submitted an offer for some clients I’m representing for a home in foreclosure. It was a Bank of America deal, and after submitting the offer we settled in for the long wait - weeks, if not longer- to get a response.
But the next morning, Tuesday, I was notified that they had reviewed our offer, along with 5 other offers they'd received, and we were asked to submit our highest and best offer by Wednesday at 5PM. Amazing, this must be a fluke.
So on Wednesday we submitted a higher offer and once again figured we’d be in for a good long wait. But on Thursday afternoon we were notified the bank was accepting another offer that was higher than ours. And that was that, 4 days from submitting the offer to final decision - by a big bank. Incredible and unheard of, but it happened.
We didn’t get it and that’s too bad, but we didn’t, and none of the other bidders did either, have to wait around for weeks to find out.
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