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Green Tree Fannie Mae 1st Ocwen GMAC 2d

Started by mike romone. Last reply by Kelly Magreevy Oct 12, 2015. 44 Replies


Started by Bob Helmig. Last reply by Brian Avery May 7, 2015. 8 Replies

Need contact # for Guaranty Bank please.

Started by Evelyn Broxterman Sep 3, 2014. 0 Replies

Bank of America servicing USDA

Started by Jeff Struchen. Last reply by Jeff Struchen Aug 7, 2014. 2 Replies


Started by Barbara Wing Mar 20, 2014. 0 Replies

Short sale finally closed now what......

Started by Cassandra Lynn Crull. Last reply by Brian Avery Feb 27, 2014. 1 Reply

Indymac/One West Bank- Urgent

Started by KIM KISER Jan 17, 2014. 0 Replies

Everhome Offer 109K above offer on short sale!

Started by Mark Gottlieb. Last reply by Mark Gottlieb Jan 12, 2014. 4 Replies

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Comment by Stephanie Lim on August 10, 2009 at 7:29am
Karen--the numbers I've heard thrown out have always reflected the NET to FMV. Maybe that is where the confusion is coming in?
Comment by Wendy Rulnick on August 10, 2009 at 7:21am
Karen - There is really no standard percentage "off" for short sales. It depends on the market. Generally, fair market value or pretty close to it. Short sales ARE usually priced less than non-short sales, because they have to be discounted due to: length of time to close,uncertainty of approval...
Comment by Karen Mathers on August 10, 2009 at 7:13am
I am confused. It is my understanding that a buyer should get a good deal on a short sale. Otherwise, why would they put in an offer and wait for weeks and sometimes months for an answer? If the home comps at $205,000 then $185,000 seems like a good price? I have always been told a short sale price would be about 85% of market value? Am I missing something?
Comment by Wendy Rulnick on August 6, 2009 at 6:25am
Bud, good luck!
Comment by Stephanie Lim on August 6, 2009 at 3:19am
I agree. You have to be able to justify your contract price. We have good luck in explaining the process to the buyer's agent and how if the price can't be justified by comps it will just be rejected anyway so we will have all wasted our time. We have found it almost impossible to get the buyer to come up after the bank comes back with a higher counter. ( The exception for us is if we need to get a foreclosure sale cancelled and the bank won't do it without a sales contract and we absolutely can not negotiate the buyer up.)
Comment by Wendy Rulnick on August 6, 2009 at 3:04am
I would negotiate it now. Why waste time offer maybe for low based on what you said.

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