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