Has anyone had luck disputing a Wells Fargo BPO for Fannie Mae?
I have a buyer on one of my WF short sale listings that went to the length of ordering an actual FHA appraisal, it comes in at 212k, they increase their offer to 205k and Wells Fargo and Fannie Mae have stated they won't use a lender appraisals value opting to use the Brokers Price Opinion. I've even sent the appraisal to them and tried to escalate the file with no better result. Foreclosure date Feb 11.
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Hi! My BPOs are coming back VERY high. Sometimes they are higher than the highest closed sale in the neighborhood/complex. I send over comps (good comps too!! Recent closed, exact same area, Same number beds and baths, etc), inspection reports, pictures etc. Pretty much anything that I think will help. However, I've yet to have any bank budge on the BPO value on any of my listings. Will an appraisal help? Also, a Broker told me the agent doing the BPO is the same agent who the bank will give that listing to if it forecloses. Is that true? Wouldn't that be a huge conflict of interest? If we can't get them to come down in price, is there someone or a place the Seller can file a complaint to? When ever I change my listing in the MLS to reflect the BPO value that the banks wants, showing requests almost stop immediately . When I do get calls on them, it's usually from agents asking me if I'm crazy for listing it so high. Any advise would be GREATLY appreciated! I'll be happy to start sending out appraisers if it will help.
Hi! Where can I find the BPO template? What do you mean by "30 Day Sale Price" ?
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