Posted by Rich-CA on June 05, 2007 at 07:17:07:
It came to $5,000 in closing costs and when you do the math it was exactly the same dollar amount, from my point of view, as the previous offer that they rejected. I moved the CC from outside the contract to the seller’s column. I thought maybe it was buried in the offer, but on the last page it spelled it out plain as day.
This is how I concluded that the REO officer had a goal of getting as close to asking as possible using a simplistic comparison of asking and offer prices.
Would not work with HUD as their formula takes into account every dime you want back from them for various costs.