Short Sale Battle: Nation Star vs Nation Star
I work hard and get my seller's short sale approved - that makes me a happy agent! :)
I sent the approval to the buyer's agent, and that makes them happy.
This then begins the time period for the buyer to do their inspections and appraisal. Now we're on our way to our Temecula short sale closing!
A little background into this short sale.
The buyer is FHA and is asking for closing costs to be paid by the seller. The seller's lender agreed to pay the buyers closing costs only on the condition that they get to do the buyers loan. OK, the buyer agrees.
The seller's lender, Nation Star then counters the sales price of $285,000 to $335,000 - the buyer agrees to the counter. Now after the approval is tendered to the buyer they order their appraisal with their lender which is also now Nation Star.
Guess what? The appraisal comes in at $289,000.
I submit a new HUD with their appraisal to Nation Star and they state the offer on the HUD is too low and reject the closing HUD statement.
Are you following this? Nation Star wants $325,000 for this home, yet Nation Star appraised the home at $289,000???
Now I have to convince Nation Star that Nation Star's appraisal is correct. I have had to do this before and it's not easy but I will get it done.
The short sale battles I have to fight are sometimes just stupid - but we get through them. :)
Want to find out more about my short sale adventures? Visit my website at http://Realty-World.net/Short-Sale-Agents
Better yet, call me, Sidney Kutchuk, at 951-217-6745. Let me personally tell you about my Temecula short sale experiences and just how we are going to get you through your short sale.