Sean Seckar, Real Estate Pro in Santa Clarita, CA

Has anyone had any luck getting HAFA to reduce their approval price? My seller was just approved but they want $10k over comps on an inexpensive condo

Asked by Sean Seckar, Santa Clarita, CA Mon Sep 19, 2011

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Yes I have been very successful doing exactly that. It requires that they resubmit the file for a new HAFA approval, but a good AM can help walk you through it. It depends on who the bank is and what the rest of the file is. Call me anytime and I can help you. I am very good at fixing exactly these kind of problems, but I need more information.

Thanks,
Rich Szerman
Silver Creek Realty
661-253-3000 x 2009
0 votes Thank Flag Link Mon Sep 19, 2011
The bank appraisals always come in high? Wonder why? Conflicts of interest in BofA's case with Landsafe appraisal. They will consider a lower price as days on market increase over 90 days. if you dont want to wait, you can appeal their value by ordering your own appraisal to justify the offer.
Web Reference: http://www.jasonhector.com
0 votes Thank Flag Link Sun Mar 4, 2012
Sean: That's been my experience as well. I've been able to submit comps in order to sway the banks, but it took tenacity and lots of escalation to get what I wanted. Good luck.
0 votes Thank Flag Link Mon Sep 19, 2011
Sean, do you mean that your offer is $10k less than the approved price? If so, have you tried submitting the offer to them yet? Because they might accept less than the list price. I just had them accept one about $13k less than the approved price because it met the net that B of A needed. Good luck.

Sara Mehrpouyan CDPE
Rodeo Realty
818-903-2040
0 votes Thank Flag Link Mon Sep 19, 2011
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