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PHH Mortgage counters on short sale for less than original Offer

Posted by Ryan Weaver on January 3, 2016 at 8:03am in Short Sale Discussions

I have been working to buy a short sale property for several months. I offered 181k the bank ordered BPO and emailed the listing agent stating that the BPO was 161k the investor needs to NET 122k and the buyer is "being countered to meet the investors minimum net". My question is why would they counter for less than original offer?

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Replies

  • Ryan Weaver January 6, 2016 at 11:41am
    Tom,

    Thanks for your reply you are correct, however would my offer of 181k gross not net well over the 121k number. If so why would they counter rather than accept?
  • Tom Brooks January 6, 2016 at 11:28am

    Hi Ryan, It sounds like you are talking different numbers. Your offer 181K is before all costs (gross). Their 122K of is a net number.  I may be wrong but you may want to check and see if that is were the difference is

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