HELP!! Mitigator countered back at ridiclous price and doesn't want to accept any counter from buyer!

Subject property is worth about about $115k to $125k. I know the value of this neighborhood like the back of my hand, just closed a S.S. there and done a few BPOs there.

 

Buyer's first offer to the bank was $100k. The mitigator counted back at $145k and said that's the investors lowest net they would accept(sounds like BS).  

The house won't even appraise for $145k.

 

Buyer countered offered at $120k and I submited 3 listings / 3 solds in a CMA for plus MLS sheets to Dispute the value they got back.

 

The mitigator e-mailed me back with this.

"I appreciate your time. However, I have already countered you with the investors best/lowest acceptable net offer. If this cannot be arranged with the current buyer than let me know because we will need to close this file and find a new buyer."

 

I won't find another buyer at $145k or can even get a loan processed at this inflated price.

 

What can I do at this point??

 

I don't want to close this file and start over just because the mitigator is being hard headed and probably didn't even look at the comparables.

 

I've thought about contacting her manager and showing her the CMA. Would that be a good idea?

 

Any suggestions would be greatly appreciated!

 

Thanks.

 

 

Views: 135

Replies to This Discussion

Permalink Reply by H Razak on October 17, 2010 at 1:38pm
UPDATE - The mitigator wouldn't accept anything and wanted to close the file.
I went straight to the mitigators manager and she was real nice about things, said to submit a CMA to her along with a new HUD and that she would submit it to the investor. I did so and she confirm she received it. The next day I get a call from the actual mitigator saying she's submitting everything to the investor and that I should have a response in 5-7 business days.
Guess what happens...
The mitigator e-mailed a DAY after submitting it to the investor and said the investor countered at the same ridicilous price of $140k.
She could of at least tried to make it look real and waited a few days. This has BS writing all over it.
Why are these damn clerks so damn lazy and eager to close the file!!

The investor is Fannie Mae, is there anything I can do by contacting them?? Would they tell me if they even received the proposal for the short sale? Maybe someone there could do something?

My last resort is to close the file wait about 15-20 days and resubmit everything to get a NEW BPO done! Obviously I rather not go this route...

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************