Replies to This Discussion

Permalink Reply by Juan Reyes on March 31, 2010 at 4:53pm

For my listings, I always put the current list price when the offer was received.

When BOA orders the BPOs for the property, most BPO forms will ask whether the home is currently listed, # of days on market, the original list price, current list price and number of times the price was reduced prior to the offer being received.

I would not worry too much about it.If the recent sales and homes currently active in the neighborhood are at or close to the price you offered you should be fine.

Permalink Reply by Liz on May 25, 2010 at 4:40am

I'm a buyer and from experience yes it does make a difference! We are going through the same thing right now, however we didn't know the Equator had the wrong price until a long time after we had put in the offer. Here's our situation. The house was listed last July for $129,000, by the time we offered it had been lowered to $115,000. The seller agreed and we started the process (this has been about 65 days ago). Two or three weeks ago Equator came back with a counter offer. The counter was $123,000, because they thought we were offering $115,000 on a listing price of $129,000. It went back to equator and we haven't heard a thing since, I believe it's now at a new supervisor, but we're in a rush to close to get our tax credit. I don't know how to make sure Equator has the correct price before putting in an offer, but it seems this has bitten us in the butt.

Permalink Reply by Liz on May 27, 2010 at 2:55am

Followup, thought I'd share. We lost the house because the bank deemed our offer too low, though we offered the listing price. I would suggest making sure everything is in line, and Equator has the right price. Not sure if this is normal, but I kind of feel if they had the right price this wouldn't have happened. Good luck!