Suggestions Needed For Shortsale Counter Offer

I got a deal that the owners owed the bank $350000. $280000 on the first and $70000 on the second.



I placed a shortsale offer of $167000 and the bank came back with $260000, $259000 on the first and $1000 on the second.



To make this work I need the bank to come down to $230000 or less.



I need suggestions on what to do to get the bank to $230K or less.



P.S home ARV range from $305-$310K under normal selling conditions.

Comments(6)

  • PropertyLion17th October, 2007

    I am countering at $190k and also will send them crime statistics and also a report on child molesters in the neighborhood? What do you think

  • cjmazur17th October, 2007

    That seems low. Be prepared for them to counter (which is fine) or walk.

  • PropertyLion17th October, 2007

    I am hoping that their counter offer is right where I want them to be or close.

  • PropertyLion18th October, 2007

    Guess what guys the bank countered at $208K. Amazing stuff

  • fremontss26th October, 2007

    PropertyLion,
    Would you mind revealing which bank this is?


    Quote:
    On 2007-10-18 23:59, PropertyLion wrote:
    Guess what guys the bank countered at $208K. Amazing stuff
    [ Edited by fremontss on Date 10/26/2007 ]

  • mcole27th October, 2007

    Congratulations!

    It sounds like letting them counter certainly paid off for you.

    : )

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