I know this is very frustrating but don't think the banks are taking the zillow estimates to hart. They due there own appraisals to come up with a real value. Zillow estimates can be manipulated very easily and shouldn't be looked at as the final word on value. If you want to get a better idea of value on your property take a look at the average kick out the high and lows out and you'll get a better idea. If you need a better idea of value do to proof of value for a loan mod or sale I would encourage you to get an appraiser.If you continue to have a problem feel free to contact me
If you mean why is the property value at 400k when there has only been two sales at this price. It could be a variety of reasons. One could be that the property in question is much like the two previous sales or they are larger than properties sold at a lesser price, or the owner or entities claiming these properties have made some adjustments to the information used to calculate the value of the property
Things to think about,Is it a realy great buy? Is it a fixer with lots to do? Is it a short sale/foreclosure or Does the price give you clear title with no other Notes on title? be caerfull get an agent
Yes that's correct the bank has a foreclosure dept. and will want a solid preapproved buyer. If you haven't talked to a lender yet, let me know and I could walk you throw the process and help you with putting together a solid offer to the bank.
HOA stands for "Home Owners Association" their the entity that controls the funds that are collected for services in maintaining the condo, townhome or gated community complex. they are also the entity that enforces the rules a regulations of the complex.