I have a condo that has a solid market value of 180K but when the original (bad) agent did the BPO she must have gone a lot higher.  The first offer crashed and burned.  I got a second offer in at 182K.  The most recent sale of an identical condo was 170K on a short sale with bofa!  The comps support lower than 182K.  BofA countered my second offer at the same as my first offer (different buyer) at 200K.  I have called and emailed asking for a new BPO and trying to explain why the 200K is not market value and that there will not be a counter.  No response from my nego.  Now today I get an auto email saying the nego is out of the office till 2 jan and the counter offer expires on 1 jan.  Can anyone comment or suggest what to do next?

 

Thanks,

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I would call back and speak to someone else and I would do that tomorrow.

Call and ask for supervisor, escilation....and twitter BofA at http://twitter.com/#!bofa_help....I have Bof A phone and twitter address in my contact list on my iPhone so I can just go for it.........get to the point in you tweet...."Help, negotiator on vacation and offer expires Jan 1 - and give your contact info".  BofA is pretty good on quick response on Twitter.  You can also have the buyer/seller sign an extention to the expiration date on your counter..... As far as the comps go...you can talk and email yourself into a frenzee...Put it in writing in a way they can understand. Run at 3 current closed comps that support your offer - do a CMA, AND email the CMA and Realtor's report of the MLS (most want Realtors report w/days on market). Don't forget to adjust for condition and send a report and pictures to support any damage..by chance do you have backups- pendings and current listings in the complex that support or possibly worse that your offer? Even if it is Active and the list price is higher, the long days on market will help support your list/purchase price.   BTW, not all BPO's are prepared by the agents.  Some companies just want the agent to take exterior and street pictures, and send them 3 solds, and 3 pending, backup/active reports that will be feed into a computer system that will spit out a BPO report...which is why some of the BPO's are soooo wacky. Your CMA/reports can also show up any BPO report that has out of date or bad comps, and no condition adjustments because of course you are going to send current and more accurate comps/reports and condition adjustments and shed a shadow on that "bad BPO".  They will either take your info, or trigger a new BPO.  Good Luck!

OMGosh!  After being contacted three times by phone about upcoming assistance with this file due to this very post I have frustration this morning.  I countered the BofA counter with the same original 182,5K offer on the 31st.  This morning BofA countered AGAIN  at the original 200K.  Still no progress.  Who looks at these files?!  I did make a tweet this morning and hope to get some assistance with this file asap!

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