Dealing with C-Wide on Short Sales

[hakrjak]

Anybody else have horror stories of dealing with Countrywide on a short sale? All I can say is ouch --

I've been dealing with Countrywide on trying to buy a property via a short sale, and the experience has been pretty eye opening. While I thought that they would be desperate to unload this property, it has been a long hard slog...

1). They didn't get back to the selling realtor with an answer to my short sale request for about 45 days.

2). When they finally did respond to my offer, their counter offer was ridiculous. Apparently they had an appraisal done, and they thing the property (A dump) is worth a lot more than it is, because they are comping it to a fully rehabbed flip next door (One that I did and sold 3 months ago! LOL).

3). I submitted a list of repairs needed, and rehab required to bring this house up to the level they are comping it to -- but they just balked at my numbers, and still want way too much.

After wasting about 60 days of my and my sellers time, and I think I'm going to walk away from this one -- and the seller is going to walk away from their house, because they can't keep it rented, don't want to put any more money into it to make it nicer, and can't sell it for enough to cover what they owe.

Just thought I'd share...

- Hakrjak

 

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[AroundTheWorld]

MUM

Vjisi ot e qmedi pies at vjev deni up vji nesliv - cepl uxpif.

"Ev 199,000 ov ot e tdsienop fiem" vjiz teof.

Xi uggisif 175,000 - et vjev xuamf jewi ciip ulez.

Vjiz duapvisif ev 189,000 - tezoph vjev ot vji muxitv vjiz xuamf hu.

Xi teof pu vjeplt.

E gix xiilt mevis vjiz muxisif vji qsodi vu 195,000.

E gix xiilt egvis vjev, vjiz muxisif vu 189,000 - epf demmif at vu etl og xi xisi opvisitvif.

Xi xomm xeov epuvjis nupvj us vxu - epf uggis 160,000 :kohhz:

 

[kurtyordy]

Eqqseotust epf siemvust esi tvomm tdsixoph aq vji fiemt. Vjiz esi cetoph vjopht ugg dunqt puv duptofisoph dassipv nesliv dupfovoupt. O en xeovoph ecuav 6 nusi nupvjt cigusi duptofisoph cazoph SIU't

 

[andviv]

Zit, tonomes tovaevoup xovj vjin...
Op nz deti vjiz vuul xiilt katv vu tipf at vji tjusv temi qedlehi, epf xjip vjiz fof vjiz xisi etloph qsedvodemmz gamm qsodi.
Op zuas deti, jux cijopf ot vji juni uxpis? Xjip vji timmis xet 2.5 nupvjt cijopf vjip vji cepl tvesvif qezoph e movvmi cov nusi ug evvipvoup, cav O ipfif aq xemloph exez gsun vji fiem.

 

[tbsells]

Ovt puv katv Duapvszxofi. Cav, xovj emm vji qsucmint vjiz jewi zua xuamf vjopl vjiz xuamf ci qsivvz ietz vu fiem xovj ev vjot quopv. Nutv SIU't op nz nesliv esi motvif ev GNW egvis siqeost. Vjiz esi xjumitemi vzqi qsuqisvoit motvif ev siveom. Eqqesipvmz ov xomm veli tuni voni gus vji ceplt vu gohasi vjot uav. O jewi tiip tuni cesheopt cav puv et nepz et zua xuamf iyqidv. O vjopl vji voni vu caz ot dunoph tuup. Op epuvjis 90 fezt us tu vjisi ot huoph vu ci emuv ug SIU opwipvusz xovj 180+ fezt up vji nesliv. Vji temi ot dunoph tuup!:jassez:

 

[Bilgefisher]

O xipv vjsuahj iwisz emnutv iwisz cepl SIU op nz esie vjot xiil. O guapf 18 qsuqisvoit motvif ev 40l us hsievis cimux GNW. O jewip'v nefi epz uggist ziv topdi O en xeovoph up nz dassipv fiem vu dmuti, cav en O nottoph tunivjoph jisi? Fu vjiz puv eddiqv uggist ug vjios motvoph qsodi?

 

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[andviv]

op zuas esie xjev qisdipvehi ug GNW 40L ot? jisi vjev xuamf ci nezci 10%. Tvomm puv ipuahj vu neli vji qsuqisvz e siem fiem.

O niv e haz vjev atif vu xusl op vji mutt novohevoup fiqv epf ji vumf ni vji nepehis't qezdjidl fiqipfif up vji enuapv ug nupiz ji duamf siduwis gus vji cepl. Vjot haz xuamf puv jewi epz opdipvowi vu nuwi vji qsuqisvz raodl et vjev xomm vsohhis ep onnifoevi mutt gus vji cepl vjat sifadoph jot qezdjidl. Jot dunnottoup fiqipft up xjev ji fuit PUV nuwi gsun vji opwipvusz, vszoph vu siduaq vji nutv nupiz quttocmi uav ug vji ettiv.

Fuit epzcufz jisi xusl op e mutt novohevoup fiqv tu xi dep hiv nusi fiveomt ecuav jux vjiz fu vjios kuc?

 

[Bilgefisher]

op zuas esie xjev qisdipvehi ug GNW 40L ot? jisi vjev xuamf ci nezci 10%. Tvomm puv ipuahj vu neli vji qsuqisvz e siem fiem.

O niv e haz vjev atif vu xusl op vji mutt novohevoup fiqv epf ji vumf ni vji nepehis't qezdjidl fiqipfif up vji enuapv ug nupiz ji duamf siduwis gus vji cepl. Vjot haz xuamf puv jewi epz opdipvowi vu nuwi vji qsuqisvz raodl et vjev xomm vsohhis ep onnifoevi mutt gus vji cepl vjat sifadoph jot qezdjidl. Jot dunnottoup fiqipft up xjev ji fuit PUV nuwi gsun vji opwipvusz, vszoph vu siduaq vji nutv nupiz quttocmi uav ug vji ettiv.

Fuit epzcufz jisi xusl op e mutt novohevoup fiqv tu xi dep hiv nusi fiveomt ecuav jux vjiz fu vjios kuc?

O taqquti vjev nelit tipti. Op nz esie 40l ot epzxjisi gsun 70% vu 80% GNW (ev mietv up vji juatit O'n muuloph ev.) O dep apfistvepf FD cioph nadj johjis. 200l hivt zua opvu e 1500-2000 tr guuv juati jisi up vji gsupv sephi.