I was just wondering if anyone here knew of any hafa guideline that referenced the difference between contract offer price and list price. I heard through someone at the lender (Chase) that the negotiator must review a contract if it is off by 10% under list price.
I have a hafa approved short sale price of $62,000 and a contract offer of 60,000 and am trying to confirm if the variance rule is accurate. I am wondering if anyone can give me guidance.
Thanks.
Joan
Tags:
You need to meet the NET price including closing costs .. OR the price will have to be reviewed.
Either way, almost every lender needs to see and approve the contract (usually just checking for completeness, 'N/A"ed empty-lines, and correct & consistent names, etc)
© 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.