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Help, HSBC Valuation

Posted by Nancy Green on December 19, 2012 at 4:41am in Short Sale Discussions

Need help with HSBC unreal valuation. Bpo performed by out of area agent, now 4 months old, hsbc will not order new bpo, will not consider comps, will not budge on valuation. Any suggestions greatly appreciated.

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Replies

Trong Dang December 27, 2012 at 8:56am

I work with HSBC on the valuation side and I can say that they will automatically re-order valuation every few months or so. It might be that they already has an interior 4 months ago and now are just doing exteriors. I also have done a few HSBC SS and the negotiators have been wonderful to work with. I am sorry to hear of your experience.
- Nancy Green > Trong Dang December 27, 2012 at 12:16pm
  
  Thank you for the input, I need your contact at HSBC. The manager I have says they will not order a new BPO until current one is 6 months old.
Lesley Salman December 27, 2012 at 6:36am

I have had this happen with HSBC as well. In my case, the purchaser accepted the counter offer knowing it would not appraise when they got the appraisal on their loan. Once the appraisal came in low, we sent it back to HSBC & they reduced the price.
- Nancy Green > Lesley Salman December 27, 2012 at 12:13pm
  
  Thanks for the info, we do not have a buyer yet because the list price is too high.

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