I have a B of A Short sale and negotiator going thoeugh equator will not budge over seller contibuiton. I live in Az a non recoarse state and seller is declairing bankrupcy and was advised by his lawyer do no take it. I got buyer to come up in price so that I can show a portion of buyers offer as a Seller contributijon but I am short $1,500 buyer will not come higher and seller will not give. How can or who can I contact by email at bank of america to explain to let go back to bank over $1,500 on a cash deal of $92,500 dose not make any sense to investor?
this is a rental so HAFA does not apply.
FRustrated?
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Wayne. You just have to keep pushing. The last time I had this problem and couldn't get the answer I wanted we went ahead and accepted the deal in Equator. After the written approval was received I started pounding the closing negotiator about the same issue. After about 6 weeks we got our way.
The issue was that they wanted the seller to bring $2,500 to closing and sign a note for $25,000. We were able to get it down to just a $4,000 cash contribution.
Asking the seller for a $1,500 cash contribution on an investment property is very reasonable. The seller should be jumping up and down with joy and asking where to sign.