Are local home buyers being sold out to investors?


Are the banks being on the up and up with the local folks that are looking to buy a home for themselves?

The reason why I ask, I wonder if there are others out there that have made a “cash only” bid on one of the foreclosed properties that supposedly no offers were pending.

Only to be told “Hurry and make a higher bid; we have other bids now. But, all bids are now closed, so hurry up and offer more and try to beat out all those other bids already there. ”

A higher bid was made. We were told we’d hear the answer the next morning. Lo and behold, four days later we heard “Nope.”

Funny thing, a friend of mine experienced the same thing, during the same time and was told on the same day, “Nope.”

I have to wonder if the banks are only pretending to offer these homes to us and our children, and then telling us all bids are closed, while all along they stand by waiting for other bids.

This home was for a single mom that is struggling to find a place to live and would have made a good home for herself and her children there. I betcha a million bucks an investor got that place. I am gonna find out.

It is my opinion that our own people should have priority to purchase the homes before outside investors are allowed to purchase. Fricking Aye! I am ticked off!