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Pennymac - BPO

Posted by Richard Florentino on November 8, 2013 at 12:39pm in Short Sale Discussions

PENNYMAC ORDERED A BPO. THE BPO AGENT SUBMITTED A PRICE WHICH PENNYMAC MADE HIM CHANGE TO A HIGHER PRICE. IS THIS ALLOWED OR EVEN LEGAL TO DO? WHAT CAN I DO TO DISPUTE THE PRICE WHEN PENNYMAC DOESN'T WANT TO BUDGE?

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Replies

Hericson Torres November 10, 2013 at 6:45pm

PennyMac is difficult. Talk to the negotiator about the value, submit your own BPO and have the buyer order an appraisal. Submit a value dispute letter. How long has the property been listed? Is it in a desirable location?
Jeff Payne November 9, 2013 at 8:49am

How do you know they made the agent change it? I would contact their broker ASAP
- Richard Florentino > Jeff Payne November 11, 2013 at 2:12am
  
  I able to talk to the BPO agent and he told me what his original appraisal was and what Pennymac told him to do after he submitted his report.

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