Seller Negotiations

Foreclosures, Short Sales, Tax Foreclosures
1

Hello, i’m chris. I’m negotiating with a seller who is 2 mo behind, and is about to go into foreclosure if she doesnt catch up. House worth $105,000 she owes $94,000. I asked her whats the least she can accept, but she wont budge from $105,000! Whats the best way explain to her that

  1. i can only offer her 70% of what the house is worth,
    and

  2. that she wont get any money if she forecloses

Chris

2

From that post, if the house is only worth 11 grand more than what she owes, she’s probably hosed (especially if repairs are needed.) If she goes into foreclosure, you’ll have to do a short since there is no room for a profit.

Good luck.