Bank of America Does It Again!

I wish I could tell you, the American tax payer and/or Bank of America shareholder, that this is a unique story in my past…but I cannot.  The following is sadly true and all too common.

A house came on the market for sale in Independence, MO. Yes, it was new and it didn’t have any restrictions barring real estate investors from bidding early.  The asking price?  $45,000.  We offered $40,000 with a 15 day cash close.  BOA stood firm and would only accept $45,000.  We passed.

Fast forward to last Thursday (34 days later) when BOA dropped the price to $39,900 and had the listing agent call us to see if we would re-bid. We did.  This time $35,000.  And it looks like they are going to take it.

So let’s get this straight.  They are going to close the a month+ later for $5,o00 less.  Heck of a business decision, wouldn’t you say?

2 Comments

Filed under Misc. Real Estate

2 responses to “Bank of America Does It Again!

  1. its may be a nice blog to give some news and nice thought to share with us.
    dave lindahl
    dave lindahl
    dave lindahl

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