I have a destressed property that previously was accepted at a lower price. We resubmitted a second CASH offer at the same (previous) price...although now the negotiater wants a much higher price for the asset in its recent counter offer!
The previous offer fell-out due to structual problems and cost of NOTED repairs and yet the negotiator is still asking us to pay 20% over the last BPO....We have forwarded current report findings and comparable sales and still no comprimise.
Any direction would be greatly appreciated!
This home home has been pospened several times and due to go to sale on 11/15...
Scott - Modesto, Ca.
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Scott,
Have you opened a case for review with the presidential office? Was a new value completed on the property? We would reach out to the negotiators supervisor and send numerous emails to escalation contacts to review the situation for a possibly resolution. In cases as this it's all about reaching the right people who are more willing to assist.
310-564-6389
Who is the Investor? I could be wrong, but this sounds like a Fannie Mae file as I had the same thing just happen. We submitted the new offer less than 1 week from the previous approval's expiration. The new value came in (with no new higher comps) and the new buyers had to pay 20% more for the property. No escalation to the Servicer will change Fannie Mae or most Investors minds for that matter.
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