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3 short sale approvals

Posted by Jeff Payne on November 9, 2009 at 7:37am in Short Sale Discussions
Details... Mortgage amount 228,000 Offer amount 130,000 Net amount to lender: 119,100 Commission paid 6% Total release, no note, no deficiency American Home Mortgage *******Seller was an investor and was current on all payments and HOA fees****** Mortgage amount 214,900 Offer amount 145,000 Net amount to lender: $126,833 Commission paid 6% Buyer recieved 3% for closing costs Seller signed a promissory note $100 per month/240 months Full release with promissory note Litton Loan Servicing Mortgage amount 1st $796,000 2nd $199,000 Offer amount $280,000 Net to 1st $262,781.61 Net to second $6246.24 Commission Paid 5% Seller to contribute $15,000 cash at closing Saxon Mortgage

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Replies

  • Jeff Payne November 16, 2009 at 10:49am
    Number 3 started out at 1,200,000 and we worked it down to 300,000. Had a buyer from another agent and he got to closing and would not sign, had a back up at the same price and closed it at $280,000
  • Suzanne Cutler November 16, 2009 at 10:44am
    Jeff,
    what was the listing price on the property in your third example. wow they took $280,000.
    Where you the listing agent or buyers agent. How many days did it take to close?
  • Jeff Payne November 9, 2009 at 10:36am
    Alan, stick with this site and it will lead you to successful short sales.....
  • Alan Nguyen November 9, 2009 at 10:34am
    wow that's great, Jeff. I'm looking forward to close one myself soon.
  • Jeff Payne November 9, 2009 at 9:34am
    I learned it right here!!!! ShortSaleSuperStars.com is DaBomb
  • Wendy Rulnick November 9, 2009 at 9:15am
    You're da bomb!! Go Jeff!
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