SS 2nd Lien Holder Question

Still working on successfully completing a SS and need help with I have a SS here is the info:

1st: $144K

2nd: $35K

FMV:$180K

ARV:$205K

Est. Repairs: $8450



Do you do a SS for both companies or will the first dictate what they are willing to pay out to the 2nd?

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