Please help me out in some figures to convince the bank

Foreclosures, Short Sales, Tax Foreclosures
1

Hi everyone,

I know somewhere I saw a letter where if the bank rejects a shortsale offer, or they come back with an appraisal too high, you make an offer and explain to them how it’ll net them more than continuing with the foreclosure, i.e. legal fees that they’ll incur, the time it’ll take them to gain possession of the property, especially if the owner declares bankruptcy the day before translated to loss in interest revenues, agent commissions, closing costs, etc.

When all is netted compared to your offer, it makes it look more appealing.

Does anyone have an idea of what these numbers would be? Or how to structure a similar letter? Thanks a bunch in advance. :beer

2

Here is a sample in this post

http://www.reiclub.com/forums/index.php/topic,28202.0.html

3

Nice post I think I wrote that!! LOL

4

It amazes me that banks don’t do their own calculation of that. They are supposed to be the finance people. :banghead

5

They know how much it’s going to cost, they just don’t know that you know how much it’s going to cost.

6

Thanks! I used to frequent some other forum before, but am now really impressed at the quality and quickness of the posters here.

Thanks a bunch everyone. :beer