Can anyone explain to me what the US bank negotiator means when she says that a HUD appraisal will not accept distress sales when it is a liquidation appraisal. I consider distress sales to be foreclosures, and short sales. Those are the only sold comps there are, but she says we can't use them. I'm confused. Any insight?
Tags:
The program guidelines call for no distressed comps to be used unless those are the only ones available. The Appraiser can use them if they are the only ones.
Exactly, but she won't read past the first part of the sentence. All the sold comps in the neighborhood are distressed. We are not even considering the lowest one. Do you know if it is successful to contact someone in management?
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.