HAFA Shortsale Variance

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

Views: 158

Replies to This Discussion

Permalink Reply by TOP END Properties on October 9, 2012 at 5:48pm

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)

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