Real estate blog entries tagged with pitfalls in short sales by Paul Jerome (Seller Helps Buyer)

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Home : Blogs : Paul Jerome : I Buy Florida Short Sales : Tag "pitfalls in short sales"

pitfalls in short sales: Another (Un?)Successful Short Sale Closing in Florida - 10/15/08 10:32 PM

A mortgage with a $211,657 balance on a home that's worth considerably less. A contract comes in at $100k, another at $120k, and another at $170k. Which of the three contracts should the seller accept?
The logical answer is for the seller to accept the $170k contract, right?
Let me tell you why I feel that's probably the wrong contract to accept to get the property sold.
The seller accepts the $170k contract and the listing agent puts the short sale package together to submit to the shorting lender. The lender orders a BPO and, by the time the lender counters, the … (2 comments)

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Paul Jerome

Clearwater, FL

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Seller Helps Buyer

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