I have a Greentree SS listing where the negotiator will not reduce price or pay 3% closing costs.  Loan is   a non-GSE loan and GT says the investor is Citi Financial.

I'd like to speak with some higher up - maybe to the investor group directly in hopes of letting them know the property  will not sell at that amount.  Any suggestion of who to contact?

thanx!

Linda

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Linda,

       What is the issue you are facing on this transaction? Did the value come back too high on the property that was completed? Have you attempted to open up a value dispute case? Also, what type of loan is the buyer obtaining? Typically, they will only allow 3% closing costs if the buyer is obtaining a FHA, USDA, or VA loan I'd be reaching out to the negotiator or their supervisor requesting what can be done to contest the value or what needs to be done in order to make this deal work..

       Getting in touch with Citi Financial directly, the investor, will likely not be an option. To my understanding reaching Citi Financial is not like trying to reach out to Fannie Mae or Freddie Mac.

If you have any questions or need anything at all, please don't hesitate to reach out to me as my door is always open.

[email protected]

310-564-6389310-564-6389

www.ishortsalenow.com

Property was listed at $185,000.  We received an offer for $182,000 with 3% cc.  GT would not budge.  They wanted $185,000 and would pay only 1.5% CC.  Buyer had other options in same neighborhood in better condition, so he walked.  Property needs new roof as well as other work to come up to  average condition.  I have not received any other offers.

File was opened to value dispute, and I paid for an appraisal (almost 6 mos. ago now).  The value came in at $181,000.  Bank thought that was close enough to the $185,000 that they refused to change.  In additional, buyers in our area are getting sellers to pay the 3%cc.  This SS loan is a conventional one.  I have not had a conventional loan where they would not pay the 3%cc.

Seller doesn,t want to do a DIL, but feels he has no choice but to seek that since bank will not budge.  

How can we at least get the bank to order another valuation.  (The previous BPO agent did not consider need for roof in value as he could not see the damage;  the home inspector sure spotted it!)

(Values have decreased in the neighborhood.  Lender was asking for full FMV despite it being a SS)

suggestions??  thx!

Linda

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