Why won't the mortgage company accept our cash offer on a repossesed house,our offer is the highest todate.

Answer 1

You have answered your own question really - because your offer is the highest "to date" = they obviously have a closing date for offers and someone else could come along and put in a higher bid than yours. After all they are out to make money and to clear off whatever mortgate is oustanding, so they will want as much as they can get

Answer 2

How exactly do you know that your "offer is the higest todate"? Are you just assuming because I doubt the mortgage company has ever spoken to you directly. How long has the property been on the market? What closing date did you put in your contract? Are you sure that the listing agent actually submitted your offer (many times the listing agent chooses to not submit if they don't like the offers themselves)?

Please use the additional details button to clarify so that we may better assist. Thanks.

Answer 3

Obviously it's not enough. Most likely they're into it for more than you're offering and don't want to let it go so cheaply.

If you check your bidding form, they reserve the right to reject any and all offers.

BTW, you have no way of knowing if your offer is the highest. That type of information is not divulged and it is illegal to do so in many jurisdictions.

Answer 4

I presume you are going through an estate agent? Before the decision as to who is accepted is made,all offers put before the agents are considered,you should be contacted and given the chance to up your offer if necessary and only then will you be informed if your offer is the one to be submitted to the mortgagees.Then an advert in the local paper has to be submitted to enable other people to make a higher bid.Iff no higher bids then it is yours.

Answer 5

cos the greedy buggers want more