Posted by Stan on September 23, 2005 at 15:50:33:
Your question is what can you do to lower the price down to 42k? The bank is wanting a minimum of 45k? If 42k is the highest that you want to pay, resubmit the offer to the bank and tell them this your final offer.
SS nego: what’s the angle here? - Posted by rm
Posted by rm on September 23, 2005 at 10:19:56:
I submitted an offer of 42k on a property (FHA loan), and the FC rep told me that I had to raise the offer to $45,500 due to “investor minimums.”
What the heck are investor minimums?
Anyway, the rep told me that the appraisal came back at 45K.
Well, it seems to me that my original offer was well within the acceptable ratios for FHA SS guidelines.
Granted, $3,500 is maybe not a big deal in the scheme of things, but hey…
What can I do to lower the sales price back down to $42k?