Ashburn Short Sales: A Good Example Of Lender Incompetence On Short Sales

Real Estate Agent with Realtors

Ashburn Short Sales: A Good Example Of Lender Incompetence On Short Sales

Ashburn VA - We received the following e-mail a little while ago from another agent that does short sales. It illustrates how the current short sale guidelines hurt the housing market and homeowners short selling their house. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The following e-mail shows you why it is important that you have an experienced short sale agent help you. Here is the e-mail.

"I have a short sale listing with a large national lender. I have been waiting for an answer since September. I finally received an answer last week in form of a counter offer to the price.

The contract price was $315,000. The lender countered $345,000. I told the buyer to and see if he is willing to pay more. After doing so, he said he will stay at the original price of $315,000.

I said I will try my best to negotiate at that price. Before I could send the comps to the lender, they order an appraisal.

I feel that the property is worth more than $315k, but less than $345k. In the meanwhile, I put the house back on market just to prove to the lender that at 345k there may be no bites. I was mistaken.

I received an offer at $341,550. We told the first buyer if he goes up to what the lender wants, we will close the deal with him. He didn't budge so we accepted the higher offer.

In the meantime, I got an email this morning from the professional negotiator I use to negotiate with the lenders. She said that the lender will accept the $315k price.

She suggested not to submit the $26k higher offer so as not to rock the boat. I have a dilemma. The first buyer's offer technically was accepted by the lender.

I think he deserves the house because he waited throughout the short sale process. But do I have an obligation to the lender to present the higher offer?

But now that the lender agreed to the first buyer's price, do we need to sell it to him? Or sell it to the second lender?" A concerned Agent.

Here was the Stop Foreclosure Institute's Response. We don't personally think that you are morally required to submit the higher offer. That lender is so tough.

They will probably require 90 days to negotiate the new, higher offer after the close out the file. So you would need to make sure the higher buyer is willing to wait 90 days. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 571-420-7838

Thanks for reading this, Kyle Mazaris.

Kyle is a Real Estate Agent at Realtors. Ashburn Short Sales Realtor:

Phone: 571-420-7838

Kyle Mazaris specializes in loan modification assistance and short sales in Ashburn Virginia. Ashburn Loan Modification Help, Ashburn Short Sales. Ashburn Short Sale Realtor. McLean VA Loan Modification Help, McLean VA Short Sales. McLean VA Short Sale Realtor. Sterling VA Loan Modification Help, Sterling VA Short Sales. Sterling VA Short Sale Realtor. Great Falls VA Loan Modification Help, Great Falls VA Short Sales. Great Falls VA Short Sale Realtor. Reston VA Loan Modification Help, Reston VA Short Sales. Reston VA Short Sale Realtor. Ashburn VA Short Sales. Ashburn Realtor.

Comments (0)