Savita Savita
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short sale bank asking for above their BPO value

Started this discussion. Last reply by Phoenix Nest Homes Oct 25. 1 Reply

Can a short sale bank ask for above their BPO value?Selene BPO value came in at 375K and they are denying it countering at 430K. Can they do that? If not who can I report this to? Continue

Short sale value dispute

Started this discussion. Last reply by Minna Reid Nov 15. 2 Replies

Been having a  hard time getting short sales approved with banks that are looking for market value with properties that are handy man and in bad conditions. Any suggestions?Continue

 

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Minna Reid replied to Savita Savita's discussion Short sale value dispute
"Do  a value dispute. Provide your own comps, repair estimates, showing and feedback history. If youve had an inspection, send the report. You can usually get them to back down with this, or just wait 3 months for the BPO to expire and try again."
Nov 15
Phoenix Nest Homes replied to Savita Savita's discussion Short sale value dispute
"Submit repair bills.  Most short sale banks have been looking for closer to the bpo value than normal due to the recent market moves during covid....I see that changing soon.  You can also dispute the value using comps as well.  I…"
Oct 25
Phoenix Nest Homes replied to Savita Savita's discussion short sale bank asking for above their BPO value
"Technically they can do anything they want.  Maybe get the buyer up a small bit more.  I would also ask for a copy of the bpo.  You also have the right the request a value dispute.  None of these are a guarantee but a few options…"
Oct 25
Savita Savita posted discussions
Oct 21

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First Name
Savita
Last Name
Savita
Are you a...
3rd Party Negotiator
State
New York
City
Bay Shore

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At 3:34am on February 2, 2018, Precious Romeo said…


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