Letter to CNN:
Over a month ago I made an offer on a home listed at 109,000. This home is in Parrish Florida. With that, I made a cash offer of 103,000, due to smoke damage, and other work that has to be accomplished. The" LENDER" just came back with a counter of $122,000; $13,000 more than the listing price. And they wonder what is wrong with the market??? The “Bureaucracy” made up of the “LENDERS” self - made rules! If this country truly wanted reform, here is but one of the countless problematic issues of real estate.
When a property becomes a Short Sale, the LENDER is aware of the dollar amount that must be satisfied. With that number in mind, the Listing Agencies should be provided a finical statement reflecting that amount. This would be a true amount expected for the home listing. Less time wasted, and more homes being populated. The longer the properties are empty; there are negative numbers in ownership, and countless additional problems with a negative outcome.
I feel this is a case of LURING a possible purchaser, and upping the price; or the LENDER has entertained another offer, not on paper (no record of wrong doing); and has countered with a higher price. Lender has nothing to lose!
As it stands, it is my feeling, the LENDER has been informed of a better offer, and the rules of my contract have no value. When it comes to money, at this level, NO RULES exist.
This is my third attempt at the short sale route ……………. I’m getting a bit angry. Repeat
Attached are e-mails supporting my memo...
To [email protected]
From: Dxxxxx Lxxxxx ([email protected])
Sent: Fri 8/19 9:49 AM
To: xxxxxxxx [email protected]
xxxxxxxx,
This counter offer is a shock!!! How can they counter for more than the asking price? My counter is for the $109,000 asking price, and I'm waiting for a call from my lawyer in Florida. Not sure where I'm going from here, but I will keep you posted. Dxxxxxx
Date: Thu, 18 Aug 16:59: 42 -0400
Subject: Re: Property to consider
From: [email protected]
To: [email protected]
Dxxxxxxx,
I got a reply from the other agent yesterday late stating that the Lender had countered your offer
at $122,000 and would pay the 3% toward your closing costs... Does that help make up your mind?
We are supposed to let them know by tommorrow end of business.
RECapps
On Wed, Aug 17 at 4:30 PM, Dxxxxx Xxxxx wrote:
Any news? I'm thinking this was a BIG mistake! I've been working the cost for all that needs to be done
and it is getting costly. Have yet to speak to anyone knowledgeable about the Property Tax. Dxxxxxx
To Dxxxxx Xxxxxx
From: Rxxxxxxx Xxxxxxs ([email protected])
Sent: Thu 8/18 4:59 PM
To: Dxxxxx Xxxxxx ([email protected])
Dxxxxx,
I got a reply from the other agent yesterday late stating that the Lender had countered your offer at $122,000 and would pay the 3% toward your closing costs... Does that help make up your mind?
We are supposed to let them know by tommorrow end of business.
XX xxxxxx
On Wed, Aug 17 at 4:30 PM, Dxxxxxx
wrote:
Any news? I'm thinking this was a BIG mistake! I've been working the cost for all that needs to be done
and it is getting costly. Have yet to speak to anyone knowledgeable about the Property Tax. Donna
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