Short Sale offer on a Condo
Hello Members,
I Have a Buyer who wants to buy a condo all cash and R.E. agent wants buyer to make an offer of $129k on this . Condo asking price is $139k and needs A little deferred maintenance . There are 2 mortgages totaling $156k and my opinion is that the FMV for this area is under 90k for a 2 bedroom condo. The buyer is a childhood friend and I understand Fair market value determines the price and not the "ASKING PRICE ". Buyer wants to offer 75k all Cash and I would like to know if any member has any sound advice on handling this scenario with agent. I know the lender wants every offer submitted to them .
Thank You,
Francisco Y.
PS. I am a new member to Bigger Pockets and I am so Happy to be here!