Loan Modification Forum - LoanSafe.org - View Single Post

Love Doctor · 02-13-2009, 03:06 PM

I placed my house up for sale with a company and we have received a call on it today. The potential buyer has offered $ 130,000.00 on my home that is listed at $ 220,000.00. The buyer says he is ready to offer more, but wanted to start the negociation on this short sale there.

Here is my question:

I'm on the hook for the total sum of $ 220k, the appriasal is about $ 150k. The Bank is going to work hard to get as much of the $ 220k as possible and this new buyer is going to work hard to pay as little as possible to secure a great deal for himself. The Realtor will get a % of whatever deal gets agreed upon... This leaves me to face the difference left over (Short Sale) to deal with.... Shouldn't I get some money out of this too?

I'm thinking if the buyer is going to get a great deal by paying say $ 70k less then what I paid for it 2 years ago, then should I ask for like $ 2,500 on top of whatever deal he shakes from the bank? The Bank gets some money, the buyer gets a great deal and I stand on the sidelines picking up the difference?

Thoughts, comments welcomed...

PEACE-

02-13-2009, 03:06 PM	#23 (permalink)
Love Doctor Member Join Date: Dec 2008 Posts: 9 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Reduce my Principle or NO PAYMENT! [FL] I placed my house up for sale with a company and we have received a call on it today. The potential buyer has offered $ 130,000.00 on my home that is listed at $ 220,000.00. The buyer says he is ready to offer more, but wanted to start the negociation on this short sale there. Here is my question: I'm on the hook for the total sum of $ 220k, the appriasal is about $ 150k. The Bank is going to work hard to get as much of the $ 220k as possible and this new buyer is going to work hard to pay as little as possible to secure a great deal for himself. The Realtor will get a % of whatever deal gets agreed upon... This leaves me to face the difference left over (Short Sale) to deal with.... Shouldn't I get some money out of this too? I'm thinking if the buyer is going to get a great deal by paying say $ 70k less then what I paid for it 2 years ago, then should I ask for like $ 2,500 on top of whatever deal he shakes from the bank? The Bank gets some money, the buyer gets a great deal and I stand on the sidelines picking up the difference? Thoughts, comments welcomed... PEACE-