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Answers (7)
- Frank Festa, "Frank J Festa"
- Contributions:1188
Dnicer1, are you working alone? If the answer to the question is yes you should ask your Attorney. Regards,
- Peggy Carter, "Peggy Carter"
- Contributions:11
I would ask your agent to do a CMA for the property. The banks will send out an agent to do a BPO (a broker price opinion) for the value of the property for a baseline. Then the banks consider this while considering your offer. That is the best advice for a short sale.
- James Berman, "TheNJRealtorGuy"
- Contributions:198
You asked the right question what would the bank consider or take. The bank is willing to tell you what they will sell it for; you just need to know how to ask.
- sua lee, "hlubkoj"
- Contributions:1
Hi dnicer1,
What I could do for you is do a CMA around the area where you are interested and that can help you determine the amount close to what the bank is asking for.. Good luck contact me if you need any help thanks
What I could do for you is do a CMA around the area where you are interested and that can help you determine the amount close to what the bank is asking for.. Good luck contact me if you need any help thanks
- Nicholas Tukmanian, "NickTukmanian"
- Contributions:42
Just to add to other responses, contact a local Realtor to find out what similar homes have sold for you recently. This information will help you determine a good range, off which you can base your offer.
- Victor Gurrola, "Victor T. Gurrola"
- Contributions:1190
BOFA states that they can accept up to 85% of market value as Jim said there is no magic formula and every investor regardless of the servicer(BOA, Wells etc..) will be different. Good luck
- Jim Basquette CRS, CNE, "Jim Basquette"
- Contributions:1231
The Zillow estimate doesn't matter. Short sales often sell above list price, but you need to know the value of the home as it is as well as know how much yiu may need to spent on it to get it up to what you want, assuming it isn't already Real estate is local, so ask your agent for comps. None of us hear can tell based on the info you provided. There is no magic formula using list price or Zillow estimate.
short sales
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