Greentree

Foreclosures, Short Sales, Tax Foreclosures
1

Greentree’s LM is asking for the ARV on a shortsale offer. We were offering less obviously, or I wouldn’t be writing. They are hateful and not looking at facts. The house (not a mobile home) is worth what they want AFTER fix up. I calmly explained how much money they are going to lose on this deal. They are OWED less than they are wanting!!

The borrower owes 74k (conv) and they are asking 85k which is the ARV. There are easily 15k in repairs! By the time they fix the house (they are actually admitting to $9500 in repairs) and pay a realtor, what is the sense in that? The sale is next week. Not sure if there is enough time to get another BPO. I can’t believe they wouldn’t at least just offer to take what they are owed.

Any advice? TIA

2

Unless your omitting some info, I don’t even see the logic in offering them what they are owed. Find someone else to deal with or better yet, make an offer that works for you and copy the bank president. When they get stuck with the house and see the costs, you can say I told you so. Maybe, then they will take your offer as a REO.

3

Amusing. :wink: Actually the offer was below what they are owed. Anyone have the bank president’s info for Greentree? :slight_smile: