Peter Mohylsky.   Beach Expert, THE BEACH IS OPEN (PrimeSouth Properties)

Spam prevention
Rainmaker
2,558,350
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
1,230,687
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
Ambassador
4,306,997
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
274,737
Caroline Gerardo
Sun West Mortgage Corporation - 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
3,499,651
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill 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
1,917,366
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
4,761,666
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - 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
1,356,561
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

That's the million dollar question! 

Jul 23, 2016 01:05 AM
Rainmaker
1,619,355
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

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
1,027,155
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
3,985,581
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
1,375,279
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names 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
3,007,454
Anna Banana Kruchten Arizona's Top Banana!
HomeSmart Real Estate BR030809000 - 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
Rainmaker
2,887,096
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

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

Jul 23, 2016 08:52 AM
Rainmaker
1,434,894
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
4,798,831
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
3,680,052
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

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

Jul 23, 2016 04:08 AM
Rainmaker
3,480,496
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
3,066,356
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
882,396
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
1,506,571
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • 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
3,713,512
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Cash and fast settlement?

Jul 22, 2016 12:46 PM
Rainmaker
3,184,487
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
1,092,491
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
Ambassador
2,209,980
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
790,726
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
162,765
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
4,254,645
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
18,487
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
Ambassador
1,615,582
Harry F. D'Elia III
RentVest - 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
634,116
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
385,062
Brenda J. Andrew
ULTIMA REAL ESTATE - Corpus Christi, TX
Professional Realtor in Corpus Christi, TX

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

Jul 23, 2016 01:37 AM
Rainmaker
4,432,941
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
230,824
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
1,832,627
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
2,425,078
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
Ambassador
3,985,307
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

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

Jul 22, 2016 11:17 AM
Rainmaker
1,307,202
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