Put a house under contract last saturday in Pa. House is 6,800 in arrears and balance on mortgage is 69k. Asked bank for a payoff amount which was 79k. Needs about 10 in repairs if holding and about 25 if selling. Comps coming in at 120k. Will Bank negotiate a better price?
thanks,
Andy
I’m not the most experienced SS’er but I think that the bank will always negotiate, they just may not come to what you want them to come to, try to manipulate out of them a number they will accept, knock off 20% and work from there.
The bank will probably order a BPO and that should help your case. Doesn’t sound like your too far away from what is owed. Banks do strange things so you never know.