Warren Bonett
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Warren Bonett's Discussions

Seterus - Valuation Dispute

Started this discussion. Last reply by Marty Macisso Nov 19, 2012. 3 Replies

I have a contract for $180k and the BPO Seterus ordered came back at $280k.  The BPO agent made the same mistake I did when I first listed the property, which was not understanding the serious…Continue

Tags: Mae, Fannie, Dispute, Value, Seterus

 

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Marty Macisso replied to Warren Bonett's discussion Seterus - Valuation Dispute
"I just had a similar experience, it appears Seterus does not even consider the BPO value when negotiating. They are merely looking at your list price and basing their value on that. I made the mistake of not reducing the price to reflect the…"
Nov 19, 2012
Warren Bonett replied to Joel Dozal's discussion Can a short sale be done "after" a BK?
"Hi Pamela.  We had to supply every bit of documentation that would have been needed if there was no BK.  The lender said that even though there is no liability for the seller, they still need to fully document the file to approve the…"
Jul 30, 2012
Jeff Payne replied to Warren Bonett's discussion Seterus - Valuation Dispute
"I agree with Joshua, 100 pages is far too much for them to read....."
Jul 18, 2012
Joshua Gayman replied to Warren Bonett's discussion Seterus - Valuation Dispute
"100 pages is way too much for them to look at. I would try to condense what you want looked at, and get it in the highest up hands possible at the bank. For a value dispute of that size, you may need to push for/wait for another bpo..best of luck!"
Jul 17, 2012
Warren Bonett posted a discussion

Seterus - Valuation Dispute

I have a contract for $180k and the BPO Seterus ordered came back at $280k.  The BPO agent made the same mistake I did when I first listed the property, which was not understanding the serious construction and maintenance issues that exist.  We submitted a valuation dispute with over 100 pages of detailed explanation, photos and quotes of what the problems are and the cost to cure.  Seterus came back and said that in spite of all the issues that has come to light and some new comps, they are…See More
Jul 17, 2012
Smitty replied to Warren Bonett's discussion Renting while waiting for SS approval in the group Help Me!
"I've done this, but only as a use an occupancy.  We did not want a tenant landlord relationship.  That said, I agree 100% with Tara, that I think this could REALLY complicate a short sale.  I did it and it was successful with…"
Apr 9, 2012
Tara Samney replied to Warren Bonett's discussion Renting while waiting for SS approval in the group Help Me!
"I wouldn't advise my seller to touch a rental agreement on a short sale (from a listing agent perspective).  The reason is if it falls through it could complicate a deed-in-lieu or listing for another short sale if renter needs…"
Apr 9, 2012
Warren Bonett added a discussion to the group Help Me!
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Renting while waiting for SS approval

I have a buyer that wants to rent the property from the seller while we are waiting for the short sale to be approved. Lender hasn't asked for an ALT affidavit to be signed yet but in the event they do, would this be considered a violation of that affidavit since there is a separate agreement between buyer and seller outside of the contract for sale and purchase?See More
Apr 9, 2012
Warren Bonett joined Wendy Rulnick's group
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Help Me!

Post your Short Sale Problem. One of our Short Sale Superstars may have a solution!See More
Apr 9, 2012
Warren Bonett replied to Joel Dozal's discussion Can a short sale be done "after" a BK?
"Does the bank require all the normal financial documentation from the seller if the BK has already been discharged and the house was included?  Wouldn't seem like they would need it in that case. "
Mar 7, 2012
Warren Bonett commented on Wendy Rulnick's group BB&T Short Sales
"Does anyone have a copy of BB&T's short sale package?  Can't download it from their website and Loss Mit won't send it out unless the borrower calls for it himself but he is not ready to let them know what he is…"
Jul 27, 2011
Warren Bonett joined Wendy Rulnick's group
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BB&T Short Sales

This group is for information, tips and solutions for BB&T Short Sales.See More
Jul 27, 2011
Warren Bonett replied to Paul Kuriatnyk's discussion How do I get through to the SS dept? in the group IBM Lender Business Process Service (LBPS)
"I usually get through in about 2 to 3 hours when I call in the mid afternoon (EST). Just put them on speaker and go about your business. I have found in general that once they do pick up you can get half way decent info, unlike the gatekeepers who…"
Dec 7, 2010
Warren Bonett is now a member of Short Sale Superstars
Dec 7, 2010
Warren Bonett joined Bill Black's group
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IBM Lender Business Process Service (LBPS)

IBM put 1.3 Billion into this arm of the business... let's see how productive that was?See More
Dec 7, 2010

Profile Information

First Name
Warren
Last Name
Bonett
State
Florida
City
Orlando

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