We sent an offer for a short sale. Offer is in negotition phase. owner owes 155,000 and listed home for 169,000 prior to forclosure. No offers. We step in and make offer and submit ss package. Loss mitigation wants owner to relist for 115,000 for 30 days. Is this ok? how do we approach our agent to have it listed for less than what is owed. esspecially after it has been on MLS for 169,000 just a month ago. Dwan T. Did not mention what to do if asked to relist for less than what is owed. We were tought to list for what is owed plus commission plus seller profits and mark it pending or contingent at the time of listing. ::)Thanks
Loss Mitigation is asking owner to relist for $115,000? If that’s the case they must be trying to see how high an offer they will get. If $115,000 is a good deal, owner will get offers for higher than listing price.