Posted by John on April 04, 2006 at 14:09:36:
If the bank accepted your short sale offer What about the judgements that attached?
Short Sale. Please Look! - Posted by Shonda Taylor
Posted by Shonda Taylor on April 03, 2006 at 11:46:08:
Hello,
I am currently negotiating a short sale. I am soon to talk to the bank and submit the shortsale package but I would really like to know what offer is realistic. Scenario:
1st $184,000
2nd $ 46,000 (been assigned to the 1st mtg lender)
Taxes: $ 11,000 ($8,000 back; $3,000 not yet due)
Judgements: $586,000 (from another property in default)
$ 71,000
(Negotiated w/claimant to do a
partial release for this transaction)
Appraisal: $225,000 3433sqft (largest house on block)
Comps: $149k-190K
Offer to: $145,000
Seller gets 0
Is my offer too much? Can I submit a lower offer without rejection? Help!!!
Thanks In Advance
Re: Short Sale. Please Look! - Posted by Bob Eberle
Posted by Bob Eberle on April 03, 2006 at 18:48:39:
Why would you do this deal? How are you going to make any money?
Re: Short Sale. Please Look! - Posted by Shonda
Posted by Shonda on April 04, 2006 at 13:12:02:
I want the house for myself. And, due to the situation I feel I can get the bank to accept a lower offer on the house which leaves me with close to $100k in equity. This house needs no repair.