Any advise on whether to get listing agreement, enter into MLS, get contract & submit OR Request List Price guidance prior to listing??
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My procedure is get listing agreement signed, enter into MLS, get contract and then submit to Fannie Mae. They usually don't give list price guidance until after they do an appraisal/bpo, and they won't do that until you send an offer in...in MOST cases.
My experience has been that you can get list price guidance without an offer using HomePathforshortsales.com. If it comes back high, you can even dispute the valuation before you get an offer. Just did this on a Seterus deal. I don't believe you can get list price guidance before the property is listed.
Thanks Vikki, I'm thinking the same way you are. I can't wait to see what the valuation is....
:)
I don't even contact FNMA until I have sales contract in hand. Their list price guidance was a joke. I had a LPG on a property for $145,000 and they countered at $180,000. Deal fell through.
You can always value dispute after you submit offer. If you do LPG before offer you are just doing extra work IMO.
Thanks for the input... I asked for LPG. Interior BPO & Appraisal was ordered & completed within 3 days. I'll see what their numbers are this week!
I would hope it's easier to deal with an known factor than a unknown factor....we shall see.
I would get offer first, based on fair market value. I think it is easier to do the inevitable value dispute.
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