Question About SS Proposal. Trying To Show Lender It Is More Beneficial To Ake My Offer
Short Sale Information Sheet
Current AS IS Fair Market Value $100,000.00
See Enclosed Comps & Grid Sheet
Real Estate Commission $6,000.00
Lost Interest daily $16.44
Attorneys Fees $4,000.00
Estimated Monthly Taxes $83.33
Estimated Monthly HOI $60.00
# of months to sell property 3
Lost Interest $1,479.45
Property Tax Costs $250.00
HOI Costs $180.00
Net to Seller $88,090.55
Any costs I am missing or things I could use to try to legitamately reduce the bank's expected net?
Thanks in Advance for the Help.
This will be my first submission.
To clarify, this is not my HUD 1 net sheet this is the proposal to show the lender what it will cost them to foreclose. The FMV listed has already taken into account the repairs and current condition of property.
Anything else I should add to this to show them more costs?
Thanks
Anyone have any suggestions?
Looks good to me. Attorney Fees could be $5000 if you really want to squeeze a few more dollars out.
Looks good to me. Attorney Fees could be $5000 if you really want to squeeze a few more dollars out.
Chase
I work on several short sales a month, and have worked with dozens of Loss Mitigation departments around the country. HSBC is by far the most unprofessional, unorganized, and disagreeable group of individuals i have ever encountered. Here is my advice......forget it. Only after playing phone games for 3 full weeks was i able to finally get a call returned.
I'm glad to hear I'm not the only one. I have just recently dealt with a personal held second mtg for $20,400 that we got her to agree to $6,000 to take. She wasn't even as unprofessional or "pissed off" for lack of a better word as the guy I talked to at HSBC! I will forget it and wait until about a month before auction is scheduled and call to see if they're more negotiable, or at least to say... I told you so. Hah.
And I apologize, Homecomings Financial is NOT HSBC. It was Household Finance that is now HSBC. The deal I have going with Homecomings Financial is going VERY smooth so far.
Quote:
On 2004-11-17 13:30, cec4242 wrote:
Chase
I work on several short sales a month, and have worked with dozens of Loss Mitigation departments around the country. HSBC is by far the most unprofessional, unorganized, and disagreeable group of individuals i have ever encountered. Here is my advice......forget it. Only after playing phone games for 3 full weeks was i able to finally get a call returned.
Hongkong Shanghai Bank Corp = London based
Homecomings = US based (Dallas?)
Not the same!
Actually they are the same.
http://www.hsbc.com/hsbc/news_room/news/news-archive-2003?cp=/public/groupsite/news_room/2003_archive/en/hsbc_completes_the_acquisition_of_household.jhtml
The loss mitigation department is based in Brandon, Florida
Tchakamon, I actually mispelled as I mentioned in the last message. Instead of Homecomings I meant Household Finance. I am working on a deal with both of them and got confused. Household Finance = HSBC.
Quote:
On 2004-11-23 19:52, Tchakamon wrote:
Hongkong Shanghai Bank Corp = London based
Homecomings = US based (Dallas?)
Not the same!