July 3rd, 2009 | 
Author: According to my real estate agent I signed one of four contracts the bank currently has for a foreclosed home. After a month of waiting, I’m hearing that the bank is sitting on the contracts (no decision been made yet) but has actually reduced the price by approx. $15,000! What is the meaning of this?
Their agent likely did that, they are just trying to get more bids, 4 is not very many.
Posted in the price is right
Maybe the offers are comming in very low so they are adjusting there listing price to todays market still trying to see if they can attract new offers at a higher price then the last offers.
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Too attract a large pool of buyers. This will in turn start a bidding war, which in turn will drive the price up.
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Their agent likely did that, they are just trying to get more bids, 4 is not very many.
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Bidddddding War!!!!
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