Bank Discounts My Short Sale Even More - Buyer Saves Almost Another $15k!

By
Real Estate Agent with Coldwell Banker Premier Properties

Bank Discounts A Short Sale Even More - Buyer Saves Almost Another $15k!

After waiting for over a month (and 2 negotiators later) my phone rings today. 

Cell Phone

 

Listing Agent:  The new negotiator is requesting a few changes to the contract from your client.  The new price is nearly $15,000 less than what our ratified contract is for.

Me:  I'm sorry I think I my phone is not working right.  What did you say?

Listing Agent:  The bank will do the deal, but they need a new contract for almost $15,000 less that what we are currently ratified for. 

Me:  Are you sure they didn't say increase the price? 

Listing Agent:  Nope.  I only questioned the negotiator for 5 minutes to make sure I was hearing her correctly.

Me:  OK.  I will get the changes and forward them to you in the morning.


I sat in my car for a moment and let the conversation sink in.  I shook my head several times.  Am I missing something? 

Then I got mad.  REALLY mad.  Our market will never recover with these types of decisions.  This is INSANE.  My buyer was getting an incredible deal before -- Now it is a give away.  At the new price we will lower values again in the neighborhood, and it is ulitimately the bank's fault, not the marketplace. 

Still in a state of disbelief.  Has anyone else experienced a situation like this one?

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SFR Designation

Craig Alexander, Weichert, Realtors®, 824 John Marshall Highway, Front Royal, Virginia  22630

540-671-6082   www.craigalexander.com  



Comments (1)

Sheri Cambareri
Village Properties of Mineola, LLC - Mineola, NY

Thanks for posting.  I enjoyed reading it.  I will keep the information in mind.

Aug 03, 2011 02:05 PM