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What if offer is higher than HAFA approved value?

Posted by Donna Clayton, Broker, MBA on May 2, 2011 at 1:40pm in Short Sale Discussions
I received a HAFA Program Approval for my client today.  We already submitted an offer for more than the amount requested in the HAFA approval.  Will the fact that the offer is higher than HAFA's requested amount have any impact on the approval?

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Replies

  • Donna Clayton, Broker, MBA May 3, 2011 at 1:25am
    The buyer's offer was considerably higher (20% higher).  I'm just hoping the lender won't question the BPO they used to set their value.  Perhaps I'm just over-thinking it.

    Smitty said:

    I can only assume that's good news.  It hasn't happened to me, but I can't imagine it's a bad thing.

     

    I usually tell the buyers agent to put in an offer about 10% less than their max offer, and that way I have room to play with if I need more. 

     

    Great job. 

  • Smitty May 3, 2011 at 1:15am

    I can only assume that's good news.  It hasn't happened to me, but I can't imagine it's a bad thing.

     

    I usually tell the buyers agent to put in an offer about 10% less than their max offer, and that way I have room to play with if I need more. 

     

    Great job. 

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