Greed is Cornerstone of Foreclosure Market

I wrote on Banks.com about an experience I’m having with buying a foreclosed home. I am not a happy camper over the behavior of this lender.

I have a buyer who has written a cash offer on a home with NO contingencies:  no appraisal contingency, no inspection contingency, no financial contingency.  He will close in two weeks.  The offer is very very reasonable, especially since the home has been listed for almost four months.  But the seller is trying to get more more more money out of a home that’s just sitting in an almost crippled market for homes in that price range.

Greed truly is the cornerstone of the foreclosure market.  It caused our problems and it is ongoing.  Shame on them.