I know the reason Wells Fargo is holding out on getting the 88% of appraised value is that they know they can give the house to VA and collect the guaranteed amount. So, why should they take a hit on loosing any money when they can let VA deal with it? Excellent question and one I would have thought the 'brains' in Washington would have been addressing.
Right now the buyer is thinking about whether he wants to go up $8K to get this house rather than take an alternative house. The only thing going for me right now is that his wife loves this house.....
The clock is about to run out and I wanted to be sure I had not missed an opportunity to put this together. Is there any motivation for Wells Fargo to take back paper on this offer rather than giving it back to VA?