This is my first equator short sale. On the counter offer from the negotiator it has $0 for the 1st lien release amount(see attachment). The property only has one lien. Am I supposed to add the full amount of the mortgage here or does the negotiator/investor do that? I'm pretty confused. Thanks for your help.

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If page 1 of your counter worksheet has a purchase price. they know what their loan balance is. You'll be fine.

Tip: Equator likes to still auto-compute commissions at 5% even if BofA counters you & it shows 6%,,make sure your next column goes back to 6%. you will get it.
Thanks Emily. I was worried they would want a promissory note for the full amount if I left it blank. I did notice that little commission trick they were trying to do. Luckily its Fannie backed so I won't have a fight over it. Thanks again.


Emily S. Knell said:
If page 1 of your counter worksheet has a purchase price. they know what their loan balance is. You'll be fine.

Tip: Equator likes to still auto-compute commissions at 5% even if BofA counters you & it shows 6%,,make sure your next column goes back to 6%. you will get it.
make sure you send an email to the negotiator and just simply ask this "Will my seller receive a 1099 after the short sale is complete?"

You WANT to receive a YES response back,,,& get that email copy to the seller. If ever they tried to pursue in the future for DJ you can fight it.

Richard Beach said:
Thanks Emily. I was worried they would want a promissory note for the full amount if I left it blank. I did notice that little commission trick they were trying to do. Luckily its Fannie backed so I won't have a fight over it. Thanks again.


Emily S. Knell said:
If page 1 of your counter worksheet has a purchase price. they know what their loan balance is. You'll be fine.

Tip: Equator likes to still auto-compute commissions at 5% even if BofA counters you & it shows 6%,,make sure your next column goes back to 6%. you will get it.
They will know what the amount is and it will show on your acceptance letter.

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