BMA or Appraisal? Or Both?

I am the listing agent on a shortsale with Suntrust.  Neg. is Derek Spinner.  Can get no communication from him.  Complete package with offer has been submitted.  A real estate agent has been out to construct a BMA.  Appraiser has not been out.  Should I expect that we are held up for an appraiser or will they process with only the BMA? 

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Replies to This Discussion

Permalink Reply by Karyl Moore on July 7, 2010 at 11:12am
On mine, they only did a BPO.
Permalink Reply by Wendy Rulnick on July 7, 2010 at 12:19pm
Mary Anne - That depends on type of loan or investor requirements. I've found Suntrust sloooooooowwwwwwwwwwwwww.
Permalink Reply by Mike Benitez on July 7, 2010 at 1:36pm
Both
Permalink Reply by Ben Benita on July 13, 2010 at 11:37am
valuation types vary depending on who the investor is on the note.
TIme frames -- these CAN drag out if you let them.....escalate your file if they do not have a response within 7 days on the valuation.

Great tip -- ALWAYS insist on an interior valuation and ALWAYS meet the BPO agent at the property. THis way you can not only engage them, but, at times like this, you can contact them back and ask when they sent their valuation to the Servicer.....

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