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Updated about 13 years ago on . Most recent reply

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Bienes Raices
  • Orlando, FL
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Increasing the EMD in a short sale offer?

Bienes Raices
  • Orlando, FL
Posted

In an MLS short sale, does increasing your EMD help in the same way that it does with an REO? Or should I just offer the minimum that the seller/bank is asking?

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J Scott
Pro Member
  • Investor
  • Sarasota, FL
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J Scott
Pro Member
  • Investor
  • Sarasota, FL
ModeratorReplied

I don't know for certain, but I would suspect that it doesn't matter to the bank how much EM is involved, only the net amount available to pay off the lien upon closing.

Btw, Joe - When I make a short sale offer, I don't put up ANY earnest money until the deal is approved by the lien-holder. I've never had any seller or bank have an issue with this.

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