Value Ridiculous......to challenge...ABSURD Requests!!

Hi Everyone!

HELP!  I have done several transactions with GMAC but in the past 30 days, they have become ridiculous!  First case, BPO agent sets value 70k over contract price.... (value less than that now)....   Second Case, with a house that has been on the market without an offer for 1215 days (not a typo), they value it at 140k over offer!  I sent all of the comps....listing history and details to them and get the following response from #2 Negotiator......

Please forward three of the following to proceed:

******)Appraisal or Buyer's BPO (BPO that the Servicer did not order)  

******)Comparative Market Analysis Report (w/ colored comp photos and full descriptions), Listing History and Realtor comments

*******) full MLS Sheets of 6 Comps(3currently listed and 3 recently sold) of properties in a 1-mile radius, Listing History & Realtor Comments

******) Inspection Report WITH COLOR PHOTOS

******)  Detailed Contractor's Estimate with COLORED photos of repairs needed

******) combined Required Documents

******) Engineers Report with Photos 

******) Listing History 

******) Official letter from the City 

******)Official letter from the County

 

Has anyone had this happen lately?????   Thank you for any help you can provide to save my sanity!

Tasha Griffin

Views: 195

Replies to This Discussion

Permalink Reply by Christine Loschiavo on December 8, 2012 at 6:50am

Yes, I have a SS listed for $100k and the BPO says $229k. Our buyer offer off 98k was countered with 123k by GMAC to which they are holding firm. I am getting aggravated and looking to escalate this. Any ideas on escalation?

Permalink Reply by Jennifer Luna SFR on December 11, 2012 at 12:50pm

I have the same problem. Any help would be helpful for me too. I supplied internet traffic results, number of showings, all of the negative feedback regarding my leaning tower of pisa and GMAC still wants to counter $40,000 above offer price. I did manage to get them down $38,000 from their initial counter but it is still way too high. I am not going to be able to pull of a short sale at that price. The price they countered at was a previous list price for months. I had NO offers.

Permalink Reply by Jennifer Luna SFR on December 11, 2012 at 12:54pm

Tasha..I don't think they are being absurd. They are only requesting you do THREE from the list. Listing history, market analysis and mls sheet are something I always provide even when not asked.

 

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