Preliminary Seller's Disclosure Form Rejection: Bad Math or A Bank Negotiating Tactic - Short Sale Superstars2024-03-28T22:17:15Zhttps://shortsalesuperstars.com/forum/topics/preliminary-seller-s-disclosure-form-rejection-bad-math-or-a-bank?commentId=3468065%3AComment%3A392762&xg_source=activity&feed=yes&xn_auth=noIf the offer price is $450,00…tag:shortsalesuperstars.com,2018-05-28:3468065:Comment:3927702018-05-28T17:35:53.512ZSmittyhttps://shortsalesuperstars.com/profile/Smitty
<p>If the offer price is $450,000 then the NET to the first and second lien would be less. So you may have a payoff to the second lien for 10K, and then first lien payoff may be $410,000. So basically $30K in settlement costs (commission, title work, attorney fee, taxes etc)</p>
<p>If the offer price is $450,000 then the NET to the first and second lien would be less. So you may have a payoff to the second lien for 10K, and then first lien payoff may be $410,000. So basically $30K in settlement costs (commission, title work, attorney fee, taxes etc)</p> Imagine you are getting a pay…tag:shortsalesuperstars.com,2018-05-25:3468065:Comment:3927622018-05-25T16:03:31.780ZBrett Goldsmithhttps://shortsalesuperstars.com/profile/BrettGoldsmith
<p>Imagine you are getting a paycheck. The offer amount is the Gross Income and the NET income is after deductions ( closing costs for real estate ). Now Imagine if your NET income was higher than your Gross Income for that paycheck. It's wrong. Without seeing your settlement statement I can't be sure but it appears based on BOA's statement whoever drew that up for you did it incorrectly. It is relatively common for non short sale experienced title, escrow, or closing attorney's to make…</p>
<p>Imagine you are getting a paycheck. The offer amount is the Gross Income and the NET income is after deductions ( closing costs for real estate ). Now Imagine if your NET income was higher than your Gross Income for that paycheck. It's wrong. Without seeing your settlement statement I can't be sure but it appears based on BOA's statement whoever drew that up for you did it incorrectly. It is relatively common for non short sale experienced title, escrow, or closing attorney's to make mistakes on settlement statements.</p>
<p>I recommend you go to whoever drew that up for you to re review it.</p>
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<p>Brett@ishortsalenow.com</p>
<p>310-564-6389</p>
<p><a href="http://www.ishortsalenow.com" target="_blank">www.ishortsalenow.com</a></p>
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