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Updated over 6 years ago on . Most recent reply

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Anthony Kondor
  • Rental Property Investor
  • Chicago, IL
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Negotiating with the bank

Anthony Kondor
  • Rental Property Investor
  • Chicago, IL
Posted

Hey Bigger pockets family were having a current issue where the current loan balance is 207,000 plus has a year of taxes and water bill . The total the seller owes is $220,000

Our goal is to sell the property to an end retail buyer for 220,000? How can we get the loan balance reduced with the bank ?

Any advice on negotiating loan balances with the bank ? We would like to get the bank to reduce by 20,000 or more the better .

Most Popular Reply

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Matt K.
  • Walnut Creek, CA
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Matt K.
  • Walnut Creek, CA
Replied

Why would the bank do that, what value does it bring them? If you know the value is 220, it's likely the banks does as well...

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