VA Short Sale Denied

I am the listing agent on a VA Short Sale.  The appraisal was done prior to me becoming the agent and of course you know it appraised too high.  I have had offers on the property and submitted the highest of the offers.

 

Bank countered at 1K lower than the list price, buyer came up 1K and the short sale was denied. 

 

New negotiator was assigned to this file and I reached out to them directly explaining the situation.  Short Sale denied again.

 

Does anyone have any insight as to what I can do to turn this around?  Thanks!

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Permalink Reply by Wendy Rulnick on September 20, 2011 at 2:28am
Tatia - VA Compromise appraisals stand for six months.  They won't alter the required net.  I don't know how an appraisal was done prior to your listing,  unless another agent or the seller submitted a contract.
Permalink Reply by cesar llanes on September 20, 2011 at 4:30am

 

Tatia,

 

Since there is a new negotiator, you need to find out why it was denied. One negotiator to another finds different reasons/answers/question/comments/requirements. Once you know what is the latest reason why it was denied, then work a solution.

 

I had this situation where the first negotiator denied the offer and when a new negotiator took over the file, he just update the appraisal/avm/bpo then approved the offer. Unbelievable.

 

I hope I was able to give some help.

 

Good luck.

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