WF is crazy and horrible in several ways. What you have is not at all unusual for most servicers, however.
Your best option is to put together solid comps, explain them like the negotiator has trouble with 2nd grade math and English - explain why your number is good. The better you are at this, the more it will be looked at. Keep it short - they are good for 30 second candy commercials at best. Don't sandbag it.
My best agent adds info like taking off for a missing garage, adding for a bedroom and spelling out what that comp really comes out to - **anyone** even a bank negotiator can understand it. Then he summarizes all of these and explains the conclusion - spelled out.. Don't let their minds wander - make it clear.
They tend to dismiss any comps - agents will throw out ones that don't agree with them, send naked MLS listings and expect the negotiator to 1) interpret and 2) believe these aren't the 3 hand picked out of the 40 that prove the bank is right.
Often ignored. To the bank, only another banker can be trusted, everyone else is trying to steal from them. So, it is very much hit and miss. But, it is the best thing you have going. I haven't had better luck with appraisals and that is with licensed people for like $400 instead of the $35 that the bank pays some kid from another state to give a BPO..
[Oh, I just received a BPO that a listing agent paid for - I'll see if that gets much traction - it should be better than the agent doing the comps herself..]
Don't give up. Counter back, provide comps if you can. Joe's advice is spot on.
Thanks Joe, and Katherine.
I have emailed and asked several times if I'm understanding what they wanted was a Net Proceed. The negotiator confirmed. With cost of selling and realtor's fees, it will push the sales price over FMV.
I fear I have a rookie negotiator on my hands. There is an email for supervisor under this person's email. Will sending the supervisor an email a good idea? I'm not sure if I'm jeopardizing the negotiations if I do.
Once a bank has the BPO, it is gold. This is from their "employee" and you are just someone trying to scam them. Going to the manager does nothing. You need to dispute their number (they all have guidelines for what they require) or you need to wait for the BPO to die and hope for a better one. Negotiators/managers do not have the power to ignore a BPO.
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