Public letter to Wells Fargo Negotiator

Hello *Negotiator* 

I would like to know what you mean by "OUR fair market value". I did not know that there is such a thing as "your" fair market value and "my" fair market value. I guess it is because you (and VA) are looking at an old appraisal and we are looking at a new one. I have a big issue with that and have every intention of getting to the bottom of it, so please, do not close the file on it yet.

1. You claim to have a VA appraisal on file for $120,000. First of we have yet to see this "VA appraisal" you supposedly have. Second, the rules are that once you have a VA appraisal on file and the value is recorded, you cannot order a new one until 6 months have passed. How come VA ordered another VA appraisal for the same property for our buyer in 3.5 months? It cost our buyer money as well as put us in this predicament of having to decide which one to go with. If someone at the VA messed up, well, their problem, not ours.
   
2. If VA was willing to order a new appraisal, the new one is definitely more recent and more accurate on the current market values, so the appraisal that is 10 days old should be accepted over the one that is 4 months old, especially in a market that changes by the minute.
   
3. You told us that if we want to challenge the appraisal you have on file it will take 6-8 weeks. Not so! There is no reason for it to take this long when we have already presented you with a new appraisal that was independently conducted by a VA appointed appraiser. (neither party of the transaction had anything to do with who got selected, how or why) Since VA appointed this appraiser they should not have any issues accepting his results.
   
4. You told me we could not use distressed properties as comps - WRONG - I checked with several VA certified appraisers and they all said you can. Actually they said you can even use foreclosure sales if there are not enough good comps in the area. The CMA I sent you had 5 comparable properties and only one of them was a foreclosure.

You already turned down an offer for $119,000 a month and a half ago that would have netted you what you needed and make everybody happy! Here we are again with another offer for $113,000 at full appraised value. Closing costs are nothing unusual - It is customary in our area for the seller to pay 3-4% of sales price toward closing costs and sometimes 5%. If this is not good enough, please, let your investor know that I will make sure to call VA directly and present my case to whoever is in charge.

My list of e-mails and phone calls I have made and will continue to make until this gets resolved includes but is not limited to the following: VA Property Manager in DC, VA Office of the Inspector General, Secretary of VA, Secretary of Defense, Consumer Affairs Office, VA Loan Dept for TN & KY, Consumer Affairs for Ft Campbell KY, Congressmen for KY and TN, Local Newspaper, several of my blogging sites and even President's and Vice President's Office.

I am expecting to get plenty of replies back tomorrow from my e-mails. You will probably get some as well as I have included your and Connie's e-mail in my correspondence as the contact person for Wells Fargo.

The Seller is a United States Military Service Member that suffered this loss due to US Government orders  for him to PCS to a new location - not HIS choice to move - yet HE and HIS FAMILY are enduring the problems that resulted from that.

The Buyer is a United States Military Service Member as well that is currently deployed in Afghanistan serving our country and HE and HIS FAMILY are going through an emotional battle to keep up with the ups and downs of getting this sale approved to allow them to fulfill the American Dream of owning their OWN home.

Well, we are where we are and I will do whatever it takes to get this sale approved! It is the right thing to do!

And I am not going to give up my commission either! I have more than earned it!