|I HAVE NO IDEA WHAT YOU'RE TALKING ABOUT|
SO HERE'S A BUNNY WITH A PLATYPUS ON HIS HEAD
Reference - in case you live under a soft and cuddly rock.
Submitted the correct and full forms for our offer yesterday for the short sale. We included a clause that says we can retract the offer if the bank doesn't respond in a timely fashion.
We got information on the owner's money status and... they are in very bad shape, like 50% above the current house value bad shape. We were considering offering enough that the sale wouldn't be short of the amount was near the value of the house. Such is not the case.
So... we leave it to the bank to decide if we offered enough. I'm thinking the bank wins, honestly, if they let the owners out of the mortgage and take what we offer. As is, they essentially get the initial purchase price of the house when current owners bought it plus some back based on selling details for that property I found at the Madison assessor site. The bank gets to keep the last decade of interest plus the principle.
But, we'll see?