The Bank-owned Santa Fe, on C. Durham, that went on the market just a few days ago is now under contract. This home was priced at $294,900. It was on the market 21 days before the bank signed an offer.
Typically with an agressively priced bank-owned property, the bank keeps the property on the market and accepts offers for 7-10 days, at which time, if they have multiple offers they give all prospective buyers the opportunity to put in what is known as their "highest and best" offer, at which time the bank normally accepts the best (not necessarily the highest), offer.
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