short offer to 2nd good condition

Short offer to 2^nd good condition

In the short offer to 2^nd good condition, the dated agreement is drawn up, with the name and address as well as the phone numbers and fax numbers of the company mentioned. It is addressed to an institution where the phone and fax numbers of that institution are mentioned as well. The heading is that it draws to attention the Loss mitigation representative’s name.

This agreement letter mentions that the undersigned party would like to purchase the property which is mentioned and the funding will not suffice to pay the second deed of trust in totality. It also states the % value of home sales which have decreased in the previous few months or year. It also states the average holding time of the area and the percentage increase in the properties which are on the market which are under expired listing.

Also, the details of repairs which the property will need are then mentioned and it states that the sellers will move out without bringing the loan current. The undersigned has also signed an agreement with the owners and pending with the institution which is written to, is the deed in escrow.  The letter goes on to state that the first deed of trust is being foreclosed and that the sellers will be filing chapter 13 as per the advice of their attorney but the undersigned asked them to desist knowing that the institution written to would desire that the matter be resolved.

It also states the amount of the net funding to the bank at the closing of the second deed of trust.

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short offer to 2nd– good condition

Your Company Name
Company Address
City, state, Zip
Phone: (555) 555-5555     Fax: (444) 444-4444
(
Date:

To: Institution Name
Attn: Loss Mitigation Rep. Name
Phone: (agency Phone)
Fax: (agency Fax)

RE:  Short Sale Request
Acct.# xxxxxxxxxx
Property Address  123 Main St;

Dear Mr. / Ms

We are currently in the process of purchasing the afermentioned property. The funding will not be enough to pay of the second deed of trust in its entirety. As you may know the real estate market in this area is under going a major transitional shift.

The values are down______% in the area in relation to comparable home sales 6 months ago. The average holding time in the area is_____________ days for properties on the market and the number of expired listings has doubled based on current MLS data provided by a local broker with 30yrs experience in the area with no foreseen turnaround in the near future.

In addition, the property will need the following repairs:

(Insert Repairs)
Mr. and Ms ______________(sellers name) are in the process of moving out with no intention of bringing the loan current. We have a signed agreement with the owners and a deed in escrow pending your acceptance.

The first dedd of trust is in foreclosure and the sellers are have been advised by an attorney to file chapter 13 to stop the sale. I have convinced them to forgo the bankruptcy citing your institutions desire to resolve this matter.

The “Net” funding to____________________(bank name) at closing will be $___________________(net funding to bank)at closing on this second deed of trust. The seller will receive zero compensation for this sale.  Please find the requested Financial Package for approval:

(Insert short sale documentation attached)

Please fax acceptance letter to _____________(your fax) or call me with any questions a_________________ (Your number)

Thanks,