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Northeast OH Short Sales: Which Buyer's Offer Should I Accept?

Northeast OH – The Stop Foreclosure Institute recently received a question from Beckie. Here was her question.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

“I need your help. I am trying to short sale my house. My lender is one of the largest in the country. We have been waiting for an answer on the short sale for six months now.

I finally received an answer last week in form of a counter offer to the price. The buyers had agreed to pay $315,000. However, my lender wanted $345,000. The buyer is not willing to offer any more money.

My realtor said he will try his best to negotiate at that price. Before I could send the comps to the lender, they ordered an appraisal. My realtor doesn’t think the house is worth any more than the $315,000.

We put the home on the market and received another offer for $341,000. We told the first buyer if he paid $345,000, then we would sell to him. He didn’t budge. So we accepted the higher offer.

In the meantime, our lender approved the original buyer’s offer at $315,000. That causes my dilemma. The bank’s representative suggested that we not submit the higher offer so as not to rock the boat.

Do we sell to the original buyer who has been waiting to buy the home for several months or sell to the new buyer paying the higher price? Beckie.”

Here was our answer to Beckie’s Question. I don’t personally think that you are morally required to submit the higher offer to BOA.

But, it will help you reduce the amount you owe to your lender and any potential income taxes owed. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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