Well, had that conversation with the inside person at the short selling bank. I did get to a supervisor. Had to go that route once again because my negotiator said no to me and that we had 180 days to sell the property. I said to her did you not realize that the appraisal will now stick to that property. What don't you understand about HUD guidelines today for FHA?
So off to the supervisor I went and I did get her to agree to go to HUD after suggesting that she pick up the phone and call HUD and get someone at HUD to look at your appraisal and look at the buyer's appraisal and act like underwriters are required to act in a sales transaction. Go back to your appraiser and ask him to provide another comparable. I told her that the appraiser will not be able to provide that comparable (I have already done a search in the area nothing exists to support it) and therefore the price of the property would be then lowered to where the buyer wants the property. Okay she agreed
At 4 pm I got the termination from the buyer. Is this the end result that banks want? So back on the market it goes until the next appraisal comes in.
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