REO List Price Descrepancy
There are some REOs listed by Countrywide that appear to be a good deal based on their website. But when I due a listing search, some of them they are listed 10-20k above what the Countrywide site states, while others are listed the same as the C-wide site. Why would there be this discrepancy? I thought maybe to build in a cushion for low-ball offers, or make a slightly higher commission. Do these realtors have an ethical obligation to list it at their BPO?
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http://www.countrywide.com/purchase/f_reo.asp
Update for any of those interested. It took me 10-12 calls and about 45 mins to figure out the probable cause of this discrepancy. It appears that Countrywide lowered their asking price and sent that to the realtor, but they have not yet posted it to the MLX (C-wide said the price figured dropped as of 4-19-07.) So REO buyers if you come across a price difference like this, it may be due to the same reasons. Happy bidding to all!