Appraisals are killing my deals!!

I don't know how many times I have seen the appraisals on my short sale listings come in too high. In March 2012 I had a short sale approved at 103k and before we received our approval letter the appraisal expired. A new appraisal was ordered. I just received the new value yesterday.....yes, yesterday (8 months later) with a new value of 112500 and an offer needed of 110,000 to net the amount needed to approve. Now the buyer has walked.......

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Permalink Reply by Wayne Brooks on November 21, 2012 at 9:46am

Do you mean BPO's? Yep, we have to fight them all the time.

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Permalink Reply by Justin Berry on November 26, 2012 at 6:55am

My #1 recommendation is to list the property at the price you want the appraisal/BPO to come in at, then justify that price to the person doing the value. List aggressively and the values follow 9 out of 10 times.

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