My client made an offer on a short-sale to purchase a condo about 5-months ago. The offer made was $16K higher than list price, the bank finally advised they wanted $5K additional from the buyer (which was okay with her) but then wanted seller to come to closing with $12,000.00; if they did not come with the cash, the seller would be required to sign a 25-year promisory note for $125.00 per month – Needless to say, seller refused – I imagine I will need to look to the foreclosures for this one.
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