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Second Offer to First Lien Holder Lender
Second Offer to First Lien Holder Lender
The second offer to first lien holder lender is also known as the counter offer to the first lien holder lender.
This letter is written to the bank of America where it is stated that the borrower currently has the contract to purchase the property and they intend to purchase the property with cash and therefore they need to schedule the closing once it has been accepted by the Bank of America. In this the borrower also mentions that the property has a purchase price of the sum mentioned and that the amount is lesser than the balance amount outstanding of the mortgage.
The reason why there is the short sale is due to the repairs as well as damage which are incurred on the property. This could be either termites, not fully air conditioned, leaks or plumbing concerns, repairs to the building or the roof or that the property condition is poor or even that the area has low value currently.
The letter also informs the bank that the closing costs will be paid as well as the property will be purchased in an “as-is” condition and without any contingencies. The seller as a result of this will not be receiving the compensation.
As the borrower needs to fund the property they need the acceptance of the bank before doing so.
The letter also needs to detail the loan number, the name of the seller as well as the entire details of the property including the address.
Where to download Second Offer to First Lien Holder Lender Template?










Sample Template Preview
Counter Offer to First Lien Holder Lender
Name
Address, City, State, Zip Code
Phone Fax
January 31, 2004
Bank Of America
123 Lender Way
Anylenderville, MI 57483
Dear Bank Of America:
We currently have the property under contract to purchase. We intend to do this with cash, and would like to schedule a closing pending your acceptance.
The property supports a purchase price of $84,500 and this is less than the current mortgage balance.
The short sale is reflected from the following conditions:
• There is extensive termite damage to the property (CUSTOMIZE)
• The house is not fully air conditioned (CUSTOMIZE)
• There are major plumbing concerns and leaks (CUSTOMIZE)
• The home is in need of extensive repairs exceeding $8,695 (CUSTOMIZE)
• The roof is a major concern, and may have been structurally effected (CUSTOMIZE)
• The overall condition of the property is poor (CUSTOMIZE)
• Current comparables in the area reflect a low value (CUSTOMIZE)The net to Bank Of America will be $80,000. We will pay all closing costs, purchase the property “As-Is” with no contingencies, and the sellers are to receive NO COMPENSATION from the sale!
We’ll need to order funding on the property so please advise. Please call or fax an acceptance to XXX XXX XXXX.
Sincerely,
Name
XXX-XXX-XXXXReference Loan #: 12394
Borrower Name(s): Joseph Seller
Property Address: 123 Situs Way Situsville, CA 95927
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