Net Proceeds is All That Matters

capri-italy

Kevin and Fred talk about the only thing that matters to the bank in a short sale - net proceeds. 

Stop talking about purchase price.  Just stop it!

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  1. Shorty Sales

    The offer price should be based on FMV.

    Liquidation appraisals don’t include distressed properties. (per Chase, B of A) Origination appraisals do include distressed properties because they are lending $$$, so there may be a $20K difference in value.

    Get the seller or buyer to pay for an appraisal upfront and tie it to the house. This is the only thing working right now to dispute value and get to close quicker.

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