Dorothy just sent over more information on this property. Check it out below.
I’ll post my response to this soon.
- Marty
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Hi Guys,
Here is the info you requested.
City & State – Charlotte, NC
The values in this neighborhood range from 120k to 150k
Subject property value is 137k
Appraisal came in at 115k
All comps are for the last 6 months – solds
The liens are as follows:
4,632.68 Hud
7,138.41 Hud
The letter that accompanied the denial stated that the Hud liens need to be paid in full from the proceeds of the sale and that another company handles the negotiations (not Citimortgage). It stated that all these fees and payoffs need to be on the sellers closing costs.
10,305.01 State Tax
5,400.34 State Tax
842.35 Federal Tax
4,431.97 Judgement (includes interest & fees – told they do not settle
2,367.95 Judgement (includes interest & fees – told they do not settle
2,184.29 This is a judgement that was not on the credit report, but showed up
when I went to the courthouse to inquire about the others.
When my offer was denied, this note came back with it.
“Please keep in mind that Citimortgage will not pay any buyer’s closing cost and/or any buyer’s discount points and/or help with down payment assistance! Not even if the offer price is increased to offset the closing costs.
Is all this normal? or did I choose poorly?
How do you choose a short sale deal?
Thank you for your help.
Dorothy
