Need help. working on a preapproved HAFA short sale and Freddie Mac is the investor. the 3rd party vendor is LRC. The approved price was 240k (overpriced -BPO) Buyer came in at 220k. They countered full price, 240k, buyer came back at 225k. They still wanted 240k. I sent comps and informed them due to condition of property and pool not being in working order 225k was a fair price. 2 similar properties in neighborhood recently went pending at 219k, one also has a waterview. I sent these to them. I also asked them for the forms for a Value Dispute and they told me Freddie Mac wasnt participating in that. They told me to have buyer agree at 240k and then they would renegotiate if the appraisal came in lower from the buyer's lender. this all happened last week. the appraisal came in at 225k. when i received the counter on Equator to answer at the 240k, I countered at the 225k and sent in the appraisal. that was 2 days ago. Today I received the banks counter on equator again at 240k. Just got off the phone with LRC's wonderful escalation person and he tells me that this is what Freddie Mac wants and the buyer will have to come in with the extra 15k.
any thoughts, comments and/or ideas will be greatly appreciated!
Tags:
© 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.