I am also working on a short sale for a vacant lot. The bank cancelled the appraisal because they weren't sure how to valuate vacant land. How did you get past the valuation?
Thanks for the tip!
The two lots that I succeeded with a short sale on were in a large planned community with many comps, including many foreclosed lots. Perhaps yours doesn't have many comps? The lender was M & I. Many lenders tell you up front they will not waive the deficiency on land so sometimes that means it's better for the Seller to either keep it or let it foreclose. Of course, I'm not qualified to give legal advice. :-)
Sam Fellig said:
I am also working on a short sale for a vacant lot. The bank cancelled the appraisal because they weren't sure how to valuate vacant land. How did you get past the valuation?
Thanks for the tip!
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.