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
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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