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Updated about 15 years ago,

User Stats

76
Posts
2
Votes
Justin H.
  • Rental Property Investor
  • Raleigh, NC
2
Votes |
76
Posts

Wells Fargo unwilling to negotiate?

Justin H.
  • Rental Property Investor
  • Raleigh, NC
Posted

This is my first short sale and I've been working on this short sale for a while now and finally got the "Approval to Participate". Originally, Wells Fargo told me that the sale contract was a part of the short sale package. No problem, I had planned to include it anyway, I had one for 60k. Now that' we've jumped through all their hoops, they say their BPO came in at $95k and no matter what I send in or counter, that's all they will accept. Are they serious? Anyone have experience with this?

Other details:
Mortgage is FHA
ATP states a requirement of a NET of 84k, though negotiator says they still won't take less than 95k

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