Thursday, April 4, 2013

Brentwood TN short sale home under contract and approved by lender

Finding a Short Sale home in Brentwood TN, Franklin TN and Nashville TN8114 Shady Place Brentwood TN 37027 is approximately 4,500 square feet with 4 bedrooms, 3.5 baths and a full walk out basement with heated floors and a salt water, heated pool.  It is an approved cooperative short sale and we started with a price of $519,000.00 which was just under the loan modification appraisal.

The market is really heating up in Brentwood TN and the demand for good short sale homes is strong.  Bank of America ordered another appraisal and gave me an approved list price of $485,000.00.  We had numerous showing and accepted an offer of $460,000.00 to bind and submit to the lender.  The lender countered back at the list price for this Brentwood TN short sale.  The buyer held their ground for this short sale home and Bank of America just agreed to the $460,000.00

I guess the moral of this short sale story home is that it sometime pays to call the lender's hand.  I fully expected the lender to come back with a price somewhere in the $470's, but they did not.

We now move forward with inspections and such for this Brentwood TN short sale home.

by MIke Conrad

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