Question For The SS PRO
Ok. I had a BPO come back at 173,000.00. It said it needed about 3000.00 in repairs so he placed the fair market value at 176,000.00. ( I got him to bring in the BPO low) They owe 197,000.00. With a 155,000.00 1ST and a 42,000.00 www.2ND.This House will sell in new condition for about 220,000.00. I am attempting to short the second. When I make my offer ,do I make it for the short amount of the second say 20,000.00. Or do I send them a contract for the entire amount of the purchase of the home. Are they aware what is owed on the first? Also I was considering attempting to short the first, should I? This property needs about 15,000.00 in repairs also. I'm having the contractors do the estimates now. I think I can make a good case on this home. This is my first short sale. Any help would be
appreciated. Thanks.
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