I have been negotiating with a Bank a Foreclosure property and the buyer sent the appraisal in order to get the loan and the appraisal came up for 60k less than the sells price and i submitted the appraisal report  to the bank and they said that the investors cannot sale the property for less than 160k and the 120k offer was rejected.

What are they thinking? they don't know that the appraisal value is  who gives the price to the properties and how the buyer can buy a property for 40k more than the house value?

In this market? in this time?

It is unbelievable!

 

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you should have taken the buyers appraisal, reduced and signed a new contract and HUD to match and submitted everything at one.

Yes i did it but, they came with the counter offer still higher than the appraisal value.

 

Again....I would kindly tell Ocwen to keep the property and find my buyer another home.
Am agree with you. I already did, now the negotiator is asking me questions about it, let see what happened.
Ok, are your buyers willing to wait a few more weeks? close the file and get it reassign. make sure the BPO is not over 90 days. all you have to do get it assign to a new Negotiator. but this time your send the buyer executed contract with the HUD-1 and supporting comps to justify the contract price and value.
It' not a short sale. She is representing the buyer on a foreclosure.
lol... I am sorry...

I know...we're all so ready with an action plan on a short sale situation! I think that's what makes us all FABULOUS!! Lol!!!

lol... u r right vanessa.
You are right and it is unbelievable; I got a short sale approval on another 3 family house on the area for 120k and it has a Green Card, good conditions and the buyer is very happy with and this one needs a lot of work doesn't have a green card, has only one boiler for the all building and they want 180k.
Okay....I'm slow, but, what is a green card?
I'm with Vanessa... What is a Green Card in the housing market?? that's a term I definitely haven't heard of.

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