The Equator system has kicked back an offer indicating "Insufficient Offer Amount". Is there someone in there that has checked the comps for the property? This has encouraged me to go back and review the comps and I am still coming up with a value of $99,000; which is the list price. In actuallity it may not even appraise for $99,000.
Is anyone aware of a work around that would allow us to push this through the system?
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Micahel,
I am assuming that you are at the very beginning of the transaction where it only asks to supply the "Gross Offer Amount" & "List Date"
This is what I have done some of my files where I've encountered this:
I've increased the offer amount until it accepts it, Equator will then open a new task which is to "Submit Short Sale Offer" This new task will ask ALL the details of the offer including List Price, Date, Offer price, Closing Help Etc.
Once you complete this and upload supporting docs, the BPOs will be ordered. I just had one of my deals get accepted by the negotiator and I did exactly this in the beginning.
I don't know why Equator does that, it could be a glitch in the system.
Juan,
Were you ever able to reduce the gross price to one that was more accurate after you submitted the gross offer and got it closed?
Juan,
Were you ever able to reduce the gross price to one that was more accurate after you submitted the gross offer and got it closed?
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