I'm new to this Equator group here, but not new to Equator. I've been doing short sales since 1990.

Since i cannot reply to a comment or discussion for some reason, here is my two bits wort:

RE: "Buyer Walked" posted on 3-7-11 by Jeffrey T Lawrence...

RECAP of Problem: If the "before the inspections appraisal" is $240K, and BoA agrees to $240K, seller then removes short sale contingency, but then buyer gets inspection report(s) with $50K in section one pest repairs, then your buyer wants a new purchase price at 240-50 = $190,000.

The way to get BoA to agree to an adjusted price AFTER INSPECTIONS (because damage was found by buyer during inspections) is to speak with a "Unit Leader in the Short Sale Negotiation department" (ROLE CODE = AVP ) and request for a RE-APPRAISAL, and make sure you meet a LOCAL & EXPERIENCED appraiser at the house with reports in hand. Read on......

1) You have BoA decline the file.
2) You have a new purchase agreement signed & New HUD1 prepared.
3) You resubmit all the docs into equator as a NEW SHORT SALE.
4) Request appraisal as first described above via "Unit Leader in the Short Sale Negotiation department" after that person has READ the reports you've uploaded to the library.

5) As an extra precaution, PAY for your own appraisal and give a copy of that to the BoA assigned appraiser when you meet.