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Short Sales Wells Fargo Second Lien Holder Requirements

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Real Estate Agent with Allison James Estates & Homes 01079287

The first lien holder ia approved but the second is Wells Fargo and the first will give $3000 to the second but wait that won't work! Wells Fargo wants 10% on the owed second! Yes it is true, sometimes they will accept a promisory note from the seller, but if the seller truely has a hardship that can be impossible. So then it is up to the buyer well, that usually won't fly either. Just a heads up for buyer agents and Short Sales.

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Realtor simple guideline to guesstimate a Homes values! Comparing apples with oranges? How to set values for embellishments? Do you think the old adage of Value equals Location, Location, Location, is true? Views, Pools, special interest additions can add desirability, and then Granite Counters, Travertine flooring, condition, square footage and any embellishments, upgrades, updates you can add to a property is worth 60-70% of the cost. This value will also be depreciated over time. Example would you consider if a twenty year old solid oak cabinette's
value even in good condition is equal in value to cabinets in the newer current color, or are they? Objective would be desirability.

Location is the basis for value. Like Homes within a one mile radius share values, and can be evaluated by sales per square foot within the last 3+ months. Pulses

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