Short Sale Scenario
Hi,
I have a potential short sale opportunity and was wondering if presenting the following breakdown to the lender (from the standpoint that I am an investor) would be considered by most lenders (of course i would also send the other paperwork to complete the ss package):
FMV 310K
Offer 207K
Deductions to arrive at offer:
Realtor fee (6% at 310K) 19K (purchase)
Holding cost (6 mos.) 12K (would itemize this)
Fix up cost 30K
Realtor fee (6% at 290K) 17K (when I sell at discount price of 290K for quick sale)
Profit required as investor 25K
FMV 310 - total above deductions of 103K = 207K
Anything I should add or eliminate based on your experience?
Thanks,
Jeremy
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