We have just completed negotiation on a short sale listing. I thought you might like to know how it progressed to a successful conclusion. The note was held by Accredited Home Lenders and the transaction details are as follows.
List Price: $275,000
Buyer’s Offer: $240,000
BPO: $250,000
Field Test: $300,000 (This was like an appraisal review)
Lender’s Counter-Offer: $262,000; 5% commission; Close in 3 Weeks
Buyer’s Counter-Offer: $242,000
Accepted!
(copyright 2007 by Dan Forbes, All Rights Reserved)
