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Is there a chance that the bank will negotiate with me regarding repairs on a short sale?

My offer has been approved on a short sale property. It's an old house so we had a foundation specialist come out for inspections. It turns out that the home's field stone foundation is unstable. The specialist estimated it to be a 35-40k fix. Our offer was only 10k below the bank's asking price which also happens to be the appraised value of the home. I know short sales are typically sold as is, but do you think there is any way we can get them to negotiate? I don't want to lose this house, we've been dealing with the bank for months.
  • July 21 2014 - US
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Answers (1)

It is not up to the bank to negotiate repairs with you on a short sale because they don't own it (yet.) Have they accepted your offer not just verbally but in writing? If not, go back and modify it. The price you offer should reflect any repairs that need to be done. Provide proof and build your case for a lower price when you submit it to the bank as well. 
  • July 21 2014
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