If the approval letters have been received based on the $300,000.00 offer, and the agreement notice has been received by the buyer from the seller, then the transaction should be able to close without any further negotiation regarding price.
If the appraisal is from the lien holders in consideration of approving the short sale, and the approval letter and/or agreement notice has not been received by the buyer, the negotiations can be continued. If you have a fully signed purchase contract including a short sale addendum and not the formal approval letters or agreement notice the lien holders could stipulate a price that would be acceptable to approve the short sale anywhere between the $300 and the $330.
In todayâ€™s Short Sale world the majority of Agents and Brokers use a Short Sale Addendum which clarifies the agreement notice as: If the Seller and Seller's creditors enter into a short sale agreement, the Seller shall immediately deliver notice to Buyer ("Agreement Notice").
Jacqueline Roersma, Broker, E-Pro, CDPE, CSSN, GRI, SFR and FiveStar Certified
Phantom Realty 623.580.1580 Ext 101