Disputing Bad BPO

I am the realtor and in Georgia the realtor cannot netgotiate short sales only provide information.

In this case they have used recent sales that support the Bank's value but these sales are not

at all comparable.  All of the current listings are for LESS than my properties.  I have provided

these to the bank and they had a second review but did not lower the price.  I have also provided

sold comp's outside of the subdivision to support my price.  My seller has past away and has nothing

inhis estate.  The Bank will not even give me a letter stated they turned down the short sale.

What should I do?

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Permalink Reply by Smitty on December 4, 2011 at 10:54am

Can you wait a couple months and resubmit?  I've done that.  The BPO will likely expire and they will have to order a new one.  The issue is the buyer.. will they wait?  Mine did but I'm not sure every buyer will.  I've also used the buyer's appraisal to combat a high BPO.  Who is in charge of the negotiations?  Have them ask for a copy of the BPO performed.

Permalink Reply by Becky Martin on December 6, 2011 at 4:23pm

Who is the investor on the loan, is there MI?  Like Smitty says, most appraisals expire in 120 days.....

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