With the 1st and 2nd being kinda flip flopped from what I’m used to seeing, what would any of you experienced investors offer on the second to get a discount? The repairs are cosmetic with the replacement of a deck being the primary cost. I don’t beilive the first will discount at all since the equity is so high. I’m really just not used to such a large second and figured a ballpark figure of 50k or so would get them to sign off.
Keep in mind that if the First is foreclosing and it actually goes to sale… the 2nd drops off. They get nothing. If you are negotiating a short sale you will not have to give them very much at all.
Just tell them…you will get them what you can.
I hope I assumed your question right.
If not I apologize.
Sorry, it is in forclosure by the first. I know many people advocate a 90% discount on the second, and that seems o.k. to do when more of the payoff is with the first (i.e. 90k first 20k second), but with the second having such a large payoff and with them knowing what the house is worth, would say a 66% discount be good to ask for ?