Sorry I have another ?. Our offer on the short sale is $14,000 less than asking price, buyer will pay

Asked by Jj, New Jersey Fri Jan 18, 2008

closing costs and 3% deposit. What are the chances that the bank will approve?

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Durenda Fach…, , Coastal Tampa Bay area. Pinellas and Pasco Counties.
Fri Jan 18, 2008
Jj

There are too many variables for anyone to give you an accurate answer.

What is the actual current market value of the property
How many mortgages on the property (the more mortgages, the more decision makers to weed through)
Which lenders hold the mortgages (each lender has their own parameters)
What costs have been incurred so far in the foreclosure procedure
Etc

The only way to really know is to make the offer and see how the response goes.

Best of luck
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