Our short sale was sold by SunTrust to Seterus (after we had been in process 4 months). They then turned over the file to Loan Resolution. We have moved along faster than SunTrust, but the valuation came in $35000 above contract price.
They have a procedure for disputing the valuation-the buyer has to get their own BPO! Of course, that agent is furious (we are now 6 months into this since accepted offer).
First, I do not know anyone who does BPO's but that could be solved. Anyone else gone through this? Any suggestions?
Tags:
Any REO agent in your area...preferably someone NOT in your office...
Thank you-I think the buyer is walking so I just need to get this done! I have another buyer waiting in the wings.
Geez, I've found Seterus pretty easy to work work. As to a BPO, any agent can do that -as Jan says, not somebody from your office. In FL there is no need for a REO agent for a BPO - any agent can do.
I am in the middle of a value dispute currently as well - the home I am marketing needs some work - lack of maintenance, funds, etc. some of the items are pretty expensive reparis, unfortunately the BPO Agent didn't note these since they are not obviously evident -- even though I have the SPDS attached to the doc tab in MLS. I am obtaining bids for Seterus - we lost the Buyer with their counter. Am trying to obtain another Buyer. Will let you know how it all works out.
I know this is old, and I have the same issue, the marathon Suntrust short sale only to be sold to Seterus. It's easy though to find someone to do a BPO. 50.00 bucks or so. Find an REO agent, or if your board has a "class" on doing BPOs ask who is doing them in your area. Most REO agents do them or know someone who can.
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