I took a short sale listing, with the homeowners applying for HAFA, just after I listed it. They were accepted into the program and the bank came back with an approved list price. I received an offer that was several thousand more than the recommended list price prior to HAFA approval, and was put into pending after the sellers signed. Do I submit the higher offer, or cancel the existing contract and have the buyer write another offer that equals the recommended list price? Thanks.
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You certainly can advise your client submit the higher offer/contract for Approval, but I would hesitate on doing so unless you think the property will appraise.