- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (2)
- NTETS, "Mr Caveat"
- Contributions:6436
anything is negotiable, you should never pay a penny more than you feel the property is worth, however the bank probably will walk if your offer doesnt jive with their appraisal... wait for the REO or find a new one
- Kenny Wagner, "kennywagner"
- Contributions:10
Yes&No. And it depends on the bank.
I know that's not the clear cut answer that you were looking for but it's lender AND negotiator specific.
The good news is some will take comps; others will take a BPO (on a BPO form); others will take a full appraisal and others...won't take anything unless you have a compelling reason to challenge it. i.e. - recent damage due to a break-in or a new sale/comp of an REO etc....BUT depending on how long their appraisal is good for (2mos, 3mos or 6mos) you can have them reorder one.
I suggest telling them that you think their appraisal/BPO is wrong and give them a reason why. Then ask them what they need for them to reevaluate ie appraisal review etc.
Good luck.
I hope this helps.
Oh, and when all else fails...escalate to mgmr &/or close the file and reopen to get a new negotiator.
I know that's not the clear cut answer that you were looking for but it's lender AND negotiator specific.
The good news is some will take comps; others will take a BPO (on a BPO form); others will take a full appraisal and others...won't take anything unless you have a compelling reason to challenge it. i.e. - recent damage due to a break-in or a new sale/comp of an REO etc....BUT depending on how long their appraisal is good for (2mos, 3mos or 6mos) you can have them reorder one.
I suggest telling them that you think their appraisal/BPO is wrong and give them a reason why. Then ask them what they need for them to reevaluate ie appraisal review etc.
Good luck.
I hope this helps.
Oh, and when all else fails...escalate to mgmr &/or close the file and reopen to get a new negotiator.
Short Sale Appraisal Very High-can you still negotiate if you can show comparables to justify
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.