I just got a short sale listing not long ago, and called the short sale department to see if an appraisal was done and what the appraisal price would be. They told me it is their policy that they cannot disclose the appraisal information with me.
I never worked with Ocwen before, just wonder if they won't tell me the appraisal price, how would I know what the lowest price they will take. I thought most banks would want us to know what their bottom price is so we know how to counter or accept any offer before sending them the package. They told me just send them the offer and they will let me know.
I just wonder if this is how they work, any tips and advices are appreciated.
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That's not unusual. They won't disclose appraised value because they want the highest price, not the lowest, and they don't want you to know. Submit an offer and just wait for their counter. Then you will have a pretty good idea as to what they will take. It's unfortunate, because it would certainly help all of us get these short sales closed a lot quicker.
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