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** EFFECTIVE OCTOBER 2013 VA COMPROMISE SALES MUST NET 85.05% of APPRAISED VALUE ***
Dispute VA Compromise Appraisals by emailing [email protected]
http://www.vba.va.gov/ro/roanoke/rlc/forms/Circular%2026-08-13.pdf
If
Started by Neil L.. Last reply by Short Sale Superstars LLC Apr 9, 2020. 3 Replies 0 Likes
Started by Rose Beaverson. Last reply by Jason Sanseverino Aug 20, 2019. 3 Replies 0 Likes
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I had two value changes as a result of my market analyses on two properties in the past seven months. One reduced from $135,000 to $125,000, another house from about $218,000 to $185,000!! I had one rejected, but it's one they sent BACK to the VA field appraiser. I think they were just swamped on that one. I was strongly advised by a VA staff appraiser, that the value challenge must "tell them something they didn't know (like comps), and be done in a grid format, so they didn't have to recreate an appraisal from comps.
Have not had much success with getting them to budge.
Michelle - Email [email protected] with a detailed market analysis and supporting information, such as inspection report.
sounds like you're pretty close. try to find a better buyer.
No. You'd be better off waiting for the appraisal to expire (6 months) and/or getting them to do a new one.
Has anyone had any luck getting the VA to budge on the 85.05%. Their appraisal is ridiculously high (100,000) and I have a buyer at 92,000 who will not come up. This is so frustrating.
Yes, Bank of America had a recent change in processing VA Compromise Sales. They now are entered into Equator.
VA may or may not reimburse the Servicer for that amount. It depends on the amount of the VA guaranty.
from the VA -
All VA-guaranteed loan mortgage servicers would be authorized to participate with relocation assistance. However, the mortgage servicers are not required to offer relocation assistance for a VA Compromise Sale or Deed in Lieu. VA does not force servicers to make a relocation assistance offer.
I was able to get Wells Fargo to approve the $1500 relocation incentive for a VA loan. VA will reimburse the lender.
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