SS negotiation - Need inputs

I am seeking some advice from experienced folks so that i
don’t blow this.

Two deals in progress. Will close with Cash, so financing is not
an issue.

  1. SS with Citifinancial.

BPO - 121K
My offer - 104K( Lenders net is about 103K).
Lender wants Net - 110K
ARV - 135K

I want to keep my offer lower than 110k, so i can help the
owner relocate.

Can i hold my position or will the bank bail and take to
foreclosure?? I want to keep the negotiation going, but
at the same time, some one will draw the line.

  1. SS with Countrywide
    Appraisal by Lender - 318K
    My offer - 290K ( Bank net - 288k)
    Rehab - 5K
    Lender says that they want a full pay off of about
    ARV - 345K

They need to factor in the broker commissions as a REO if
they do foreclose, which they have not considered given
their Appraisal estimate.
As again, i want to keep my purchase below 300k to help
the homeowner relocate.

Please provide inputs.


I’d stay where you need to be to make your numbers work.

I just had a deal come back to me 4 months later when the bank still hadn’t foreclosed and the seller just wanted out so he could move on.

Best part was that my offer 4 months later was $22K less than the bank wanted the first time I talked to them. And it was accepted.

The countrywide deal seems to be a pain in the hind.
They say that their investors, “bank of NY” has rejected the
SS proposal and wanted a full payoff.
I can make money even at full payoff, but want to do better
if they take a cut.

Now here is what i wish to know from folks that have dealt
with countrywide.

Do they not just base their decision on the “Appriasal”??
Do they perform their own property value estimation with
information from Comps/Zillow/Appraisal etc?

I am close to telling them to go ahead and foreclose. I can
then pull the plug at the last minute by paying off the
deliquency and then taking over the deed or something of
the sort. I don’t care if they call, since i have the cash to toss
at their face.

In all fairness, they should at the least discount the broker

Thanks for any inputs.