Posted by dave on April 17, 2004 at 11:32:47:
those fees combined are a fraction of your discount you offered them.
fairbanks rejection - Posted by Peter Rzepka in Vegas
Posted by Peter Rzepka in Vegas on April 17, 2004 at 02:03:46:
I started a shortsale offer in early march. I was told BPO was 160-170 by loss mitigator. First payoff is 135K, second is about 35K. I offered Fairbanks 4K as a short on the second in march. They said no. This week ,I raised it to 20K and they said that they were told by the investor not to take a shortsale on this property. Auction date is May3. Anyone dealt with Fairbanks lately?
Re: fairbanks rejection - Posted by dave
Posted by dave on April 17, 2004 at 04:27:14:
who’s got the first? i’m asking because fairbanks is an arm of conti. they operate under several names and it wouldn’t surprise me if they are also holding the first.
if the house is in good shape, what do you think the motivation is for them to discount? they’ll just hit the cosmetics and retail it and be in better shape than they would by taking an offer like yours.
fairbanks is also in a position, if they don’t hold the first, to purchase it to save their second.
there’s no motivation that i see here for them to do anything other than what they’re doing
Re: fairbanks rejection - Posted by dave
Posted by dave on April 17, 2004 at 03:22:18:
no matter what they say, fairbanks is the investor.
what kind of shape is it in?
Re: fairbanks rejection - Posted by Peter Rzepka in Vegas
Posted by Peter Rzepka in Vegas on April 17, 2004 at 04:35:21:
The first is with First Franklin. Whay about their repair fees, administration fees,holdind costs and realtor fees if they take it back? Wouldn’t that be some motivation.
Re: fairbanks rejection - Posted by Peter Rzepka in Vegas
Posted by Peter Rzepka in Vegas on April 17, 2004 at 04:21:13:
Its in nice shape on the outside. Inside needs minor repairs ,its only 4 years old. No interior BPO was done. First is foreclosing , not Fairbanks.