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Mike Luzzo, Real Estate Pro in Orlando, FL

AGENTS: In your experience what has been the LOWEST purchase price you have seen APPROVED regarding Short Sales?

Asked by Mike Luzzo, Orlando, FL Mon Nov 8, 2010

Are servcing lenders putting a bottom on the amount they will mitigate?

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Hey guys so it looks like the average is somewhere around $25K....would you agree with that?
0 votes Thank Flag Link Tue Nov 9, 2010
$4,900.00 - unimproved property in Brevard County Florida
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0 votes Thank Flag Link Mon Nov 8, 2010
Hey Mike, Lowest I've seen approved was $27,900 on a 1/1 condo. The lower the purchase price the more difficult they are to negotiate because the percentages tighten greatly. On a $35,000 BPO if they want to NET 80% they will want to see $28,000 NET on the hud. Very difficult to do especially when HOA liens are attached....
0 votes Thank Flag Link Mon Nov 8, 2010
Hey Mike! I have seen as low as 22,900 for properties in Poinciana.
0 votes Thank Flag Link Mon Nov 8, 2010
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