CLOSED! Andover Massachusetts Short Sale

Andover MA short sale

Once again, we must thank Lisa Sevajian Johnson for working so diligently on this sale and also Cheryl Tibaudo for assisting on the buyer side. This sale was a Chase first and second lien only had MULTIPLE title issues before closing and then a valuation from Fannie Mae that left us all scratching our heads.

Interestingly the valuation from Fannie Mae was eye opening. The valuation on the property was more than $100,000 higher than the buyer’s offer. We knew something wasn’t right, but we were thankful that Cheryl Tibaudo insisted her buyer go forward with their mortgage commitment during the process of the short sale and not WAIT for short sale approval, because this yielded their appraisal. Well, with the buyer’s appraisal we were able to go back to Fannie Mae and do a valuation dispute which led to a $90,000 price reduction.

Lisa Sevajian Johnson - short sale agent Merrimack Valley

Fannie Mae is reasonable, but you have to put together your case. You must build it like a home brick by brick and show them what you’re looking at when you list a property, so that when these values come in and are so far off, you can show they WHY they should reconsider an offer.

Thankfully with Julie in the office and Lisa, Cheryl, Noreen from Phenix title and Meghan Grugnale, from Grunale Law, this sale came to a close in excellent time and we couldn’t have done it without the help of EVERYONE involved.

Thanks gang!

Leave a Comment