Re: Short sale in MN

Posted by Kate on February 22, 2006 at 09:31:46:

In Reply to: Re: Short sale in MN posted by Jim V on February 21, 2006 at 20:02:17:

: kate,

: If you owe about $205k, you'll probably need a sale agreement for maybe $160 - $170k. There are an awful lot of variables, so a lower price might be appropriate, but I don't think $90k would fly unless the house is virtually destroyed.

I'm so sorry. If I cited a possible price of $90k, I meant $190k. If it sold for $190k, does that mean the bank would be willing to take that $15,000 loss?

Follow Ups:

• Re: Short sale in MN - steele in minnesota 10:10:40 02/22/06 (0)

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: : kate,

: : If you owe about $205k, you'll probably need a sale agreement for maybe $160 - $170k.  There are an awful lot of variables, so a lower price might be appropriate, but I don't think $90k would fly unless the house is virtually destroyed.

: I'm so sorry.  If I cited a possible price of $90k, I meant $190k.  If it sold for $190k, does that mean the bank would be willing to take that $15,000 loss?


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