Peter Mohylsky, Beach Expert, Call me at 850-517-7098 (PMI. Destin)

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Rainmaker
2,776,741
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

On short sales...all logic, common sense and savvy is nearly extinct. Great game show question here

Jul 22, 2016 06:50 AM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Might be luckier rolling the dice than second guessing a bank especially on short sale.  Good luck

Jul 22, 2016 07:03 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Peter Mohylsky - difficult to judge,,,,

After all its a short sale!

Jul 22, 2016 04:31 PM
Rainer
415,315
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Higher priced one IF the financing is a lender they know and trust. Cash often isn't really cash at closing

Jul 22, 2016 06:18 AM
Rainmaker
5,096,866
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Richie Alan Naggar got this answer right! No rhyme or reason or common sense in short sales.

Jul 22, 2016 09:25 PM
Rainmaker
2,172,663
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

A Short Sale and Quick in the same sentence ???????????????

Jul 22, 2016 07:04 AM
Ambassador
6,362,764
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I think that Richie Alan Naggar , Mary Yonkers and other have called this one pretty accurately.

Jul 23, 2016 09:32 AM
Rainmaker
2,219,617
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

That's the million dollar question! 

Jul 23, 2016 01:05 AM
Rainmaker
1,840,906
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

You must do short sales differently than I do. We pick one & submit one to the bank. They are only interested in their net.

Jul 22, 2016 09:21 AM
Rainmaker
1,027,602
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Quick close on a short sale?  Not sure they know the meaning of the word "quick" but I'm going to guess the higher amount.  Who knows with banks, though?

Jul 22, 2016 07:23 AM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

You are talking about a bank and they do things without rhyme or reason

Jul 22, 2016 06:55 AM
Rainmaker
1,390,113
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

I gave up trying to predict what banks will do a long time ago 

Jul 22, 2016 06:46 AM
Ambassador
3,583,134
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Peter who knows! Depends on bank. I stopped taking short sales 3+ years ago so I'm not up on what craziness is going on anymore!  Good luck with this sale!

Jul 22, 2016 06:15 AM
Ambassador
3,340,605
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Just roll the dice ... they may not accept either ... they could counter. 

Jul 23, 2016 08:52 AM
Rainmaker
1,435,300
Yolanda Cordova-Gilbert
Richmond, TX

Hmmm I have no idea it will be interesting to see what the bank does let us know!

Jul 23, 2016 08:27 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have no clue.  But, if the $660K is close to appraised value, that would be my guess.

Jul 23, 2016 05:02 AM
Rainmaker
4,557,997
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Is this a question of logic?   If so, all bets may be off.  

Jul 23, 2016 04:08 AM
Rainmaker
4,908,205
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

this could go either way, short sales are hard to say.

Jul 23, 2016 01:32 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

We submit only 1 contract between Buyer and Seller to the lenders...

anything else is a "back up offer"

Jul 22, 2016 11:09 PM
Rainmaker
987,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

IMO the 660 - it's a numbers game with them and they want the numbers - let us know Pete

Jul 22, 2016 09:01 PM
Rainmaker
1,619,816
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

660 if there are no other contingencies in that offer that can kill the deal. 

Good luck.

Jul 22, 2016 04:40 PM
Ambassador
3,727,581
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Cash and fast settlement?

Jul 22, 2016 12:46 PM
Rainmaker
3,415,644
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

You should never send 2 offers to a bank. A bank has time. A quick close does not matter. A bank only loses money on a short sale. They would prefer to sell it for more and wait. They also would prefer to foreclose and collect on the PMI than lose money on a low ball offer. Peter Mohylsky  I would take the high offer. Make sure the buyer includes a pre approval, is ready to close within 30 days of bank approval and remove other contingencies for a better shot at bank approval. 

Jul 22, 2016 11:47 AM
Rainmaker
1,237,820
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

If I was the listing agent I tell you only have 1 shot not 2. Take your highest and best pick.

 

Jul 22, 2016 10:12 AM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

They'll probably come back and ask for highest and best. 

Jul 22, 2016 09:39 AM
Rainmaker
909,328
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Hard to say. Depends on what they think fair market value is, and condition of properties. They should accept both if the offers are in ballpark. Seems like many lenders and investors have their own way of doing business, and many times those ways don't make sense.

Jul 22, 2016 07:02 AM
Rainer
182,915
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

The one which is higher if its being under written already without property address.

Jul 22, 2016 06:30 AM
Ambassador
5,036,221
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Who knows? It depends on the bank. I am guessing the better price will get the nod

Jul 22, 2016 06:23 AM
Rainer
18,837
Agi Anderson
Showcase PM - Melbourne, FL
Behind on Mortgage Reach to FL Prevention Services

I believe lenders are always looking for the highest price possible, I don't think cash is as motivating as the higher price. Do tell! Eager to know what they accepted! 

Aug 02, 2016 07:23 AM
Rainmaker
1,617,866
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

The banks will take the path of least assistance-CASH deal first.

Jul 23, 2016 11:56 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

If they are the chosen lender for the higher offer tht one has the best chance.

Jul 23, 2016 06:24 PM
Rainmaker
514,337
Brenda J. Andrew
ULTIMA REAL ESTATE - Willis, TX
Professional Realtor in Conroe/Willis, TX

That is a tough one.  What is the asking price?

Jul 23, 2016 01:37 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No idea.

Jul 22, 2016 09:21 PM
Rainer
231,224
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

i think,,,because they recd 2 offers ..they will hold out for the asking price, or raise it..perhaps the bank holding the note will examine the possibility of extending credit to this new buyer

Jul 22, 2016 01:25 PM
Rainmaker
2,352,660
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

What is the delta between the offers and lair prices.

Jul 22, 2016 11:47 AM
Rainmaker
2,443,200
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

$660 financed.  The process is so long anyway, cash means nothing to a bank.

Jul 22, 2016 11:42 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

My guess would be with hte one that nets the most therefore the financed one.

Jul 22, 2016 11:17 AM
Rainmaker
1,499,368
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Most banks I've dealt with as the buyer counter any offer they get as a standard procedure.

Jul 22, 2016 07:33 AM