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Sharing Buyers Appraisal with Bank during short sales

Posted by christinevmcinerney on January 10, 2011 at 5:29am in Short Sale Discussions

I currently have a short sale in which the buyer's appraisal accidently got ordered and completed.  The appraisal came in much lower ($30K) than what the bank counter back with and about $15K above what the Buyers are willing to pay.

 

The question I have is should this appraisal be forwarded over to the bank (with buyers approval of course) or is it something that should not be brought up at all.  In other words would this be more helpful or more damaging in the negotiation?

 

 

 

 

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Tags: and, appraisals, bpo's, dealing, high, negotiating, sales, short, with
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  • Jeff Payne January 10, 2011 at 5:49am
    I would use the buyers appraisal ONLY if the buyers are willing to pay that amount.  It appears that the buyers are not willing to pay the appraised value (their appraisal) so I would be careful to not waste too much time on it.  Many times we have gotten the bank to reconsider based on our appraisal but the buyer was willing to pay FMV for the property.  Probably also depends on if this is a $1,000,000 home or a $75,000 home too. 
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