Posted by Terry (Houston) on July 25, 2001 at 15:36:10:
I do not know the answer to the last question so I will leave that to the pro’s.
To the other questions: Assuming your comp figures are right lets play a little:
You are taking over $64,200 and they are behind $1,653 so that is $65,853. Ask them “Where would you like the $2,500 to come from, comps are $68,000! I would have to sell Your House for You and come out of MY pocket to do that. Does that sound fair?”
When they say no explain that you are saving their credit, their house, and the repairs that are needed will be taken care of by you!
If they don’t like that they are not motivated. Now the real question comes in:
Do they know the comps are really $80k? If so then is that a deal for you? I don’t like coming out of pocket that much though.