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12-20-2011, 12:55 PM #1
Renter
- Join Date
- Dec 2011
- Posts
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Bank's Incentive to Sell
I am purchasing a bank owned property. I am clear to close. How much difference does it make for the bank to sell the property by end of year vs. waiting until January. I want to close this week, but I suspect they want to close next week, as they are unresponsive to my requests regarding scheduling the closing. I can wait until January--they might suspect I cannot, and maybe just prefer doing it next week. So here's the question: Is there a strong incentive (getting property off their books) for them to close by Dec 30? Enough so that they would rather close this week than wait until January, if I indicated my unwillingness to close next week?
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12-21-2011, 05:02 AM #2
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- Sep 2007
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There are times when the banks will be more responsive at the end of a quarter or the end of the year for tax reasons but there is no way for us to know. I t really depends on how their year went. If they are already heavy on write offs for this year they might try to push it into next year when the write off will be more advantageous to them.
Keep pushing because more than likely they would prefer to take the write off this year and their un-responsivness is simply because they are trying to get too much done at the last minute.Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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