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Short Sale Insight....Getting the Negotiator to Call you Back
Yesterday I ranted about a scenario I was experiencing where I, representing the sellers, got a phone call from the buyer's lender who had gotten a hold of the Seller's Negotiator. These two got their heads together and discussed lowering the sales price by $10,000 as a result of the appraisal being low.....and that was my seller's appraisal!! There seemed to be no discussion of having the buyer conduct a separate appraisal. I was upset, but I learned something after I got to speak with the negotiator directly myself.
Let me begin by saying both the selling side's negotiator and the busyer's lender, were working for COUNTRYWIDE. When the buyer's lender called the negotiator, the negotiator was obligated to call that lender back within a very small time frame. It is internal, mandatory etiquette between COUNTRYWIDE EMPLOYEES. I called this negotiator every day for 10 days. And the buyer's lender, within the same company got her the same day as she placed her first call.
In addition to explaining why she had to do that, the negotiator told me she had to disclose the first appraisal price...again...because it was Countrywide to Countrywide. I suggested a that the buyer's lender conduct an appraisal, just like they would in any normal transaction. I explained ... more
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