Hello all, I am doing my first short sale listing. I am representing the seller and I have just received a rejection letter from the bank because they will not net enough money. My questions is do I disclose this information to the buyer's agent? Do I let them know that the bank wants to net "x" amount or do I just tell them that their offer needs to be higher? It does not matter to my sellers if I disclose this information. They just want to get the deal done. I just want to make sure I am following the correct procedure for this. Any help / guidance for this would be greatly appreciated.
You need to be a member of Short Sale Superstars to add comments!
**********************************
like buttons
Replies
Find out what purchase price is needed to meet the minimum NET the investor is requiring. I'd then speak to the buyers agent about exactly what is being communicated to you and counter them accordingly.
Let me know if you have any questions or need assistance as my door is always open.
Brett@ishortsalenow.com
310-564-6389
www.ishortsalenow.com