I have an FHA short sale listed. Bank of America came back and told me to put it on the market for $16,000.00 and that they must walk away with $14,080.00. We are currently in phase 2...
The problem is that the numbers do not work...
Sale price 16,000.00
Seller incentive is 1,000.00
Title Company fees are 495.00
Commission is 6%= 960.00
Totaling this is less than the bank requirement...