Short sale/ pre-forclosure

Submitted by natividad974 from NJ - 08/02/2009 - 4:35pm

Out of all the townhomes I'm looking a pre-forclosure home.It listingprice is worth $255K. It was listed since 1/09 and a bidder made there bid on 3/09 rejecting $220K. What is a good bid to put down??? Is that really considered a short sale price? My brother is loan officer and he said $175K is an ideal price for a short sale price.

You are not watching this post, click to start watching

Comments

Submitted by Jeff - 08/18/2009 - 8:22pm

Typically you will get a shortsale accepted at about 82-85% of the BPO. use this to avoid guessing and leaving money on the table, good luck

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

Before You Post

All comments should be relevant to the topic of the post and are subject to the terms found in our User Agreement.

Asking a Question

If you'd like to ask a new question, please start a new topic.

Please no SPAM.

We nofollow all links and promptly remove unsolicited advertisements - spamming here is a complete waste of your time, so don't bother. Vendors who actually answer questions and provide value to our forums may include links to their company or service as part of their signature.