Can someone explain this to me?
I have a seller whose going through a short sell with EMC
EMC ordered a BPO and that value came in at 119
My client had an apprasial completed value 115k
EMC says they will not accept anything less than 218,000
Does this make sense? Can someone explain this to me? EMC reps will not explain why or how they got that 218k value
Tags:
Berry,
Please excuse me, as I'm little confused. I may be wrong but I think the real pros here (not myself) may need a little more information and clarification. Your subject line say the BPO is estimated the home at $119k but, in the body of the post you show an appraisal at $115k and a BPO at $218k. Please clarify.
Well the BPO order by EMC came back at 119k
My sellers had an independent appraisal completed which came back at 115k
EMC will not accept anything less than 218k
yes and everyone is telling there is nothing they can do etc..
the apprasial was submitted with proof 2 homes on the same street with are comps sold for less than 130k and those homes were much nicer than this current one
I am having a similar problem with Chase. My BPO says $150K. Their appraiser said $225K. I have had four offers in 306 days, all around $140K. The seller has signed an ofer for $144,500. Chase may go ahead and foreclose. A recent foreclosed listing nearby brought $57,500. What is wrong with these people?
thanks.. it makes no sense to me at all
i've went to the "executive office" waste of time it seems
but i was able to get the direct number to the EMC Short Sale presidents office. So I will see how that works out on tuesday
- I was only able to get the number because an agent in our office had an emc short sale and EMC mistakenly foreclosed on the property and the president of the short sale department sent her a letter with apologies etc.
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