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

Help the community by answering this question:

+ web reference
Web reference:


Realty One G…, Agent, Santa Clarita, CA
Mon Sep 19, 2011
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.

Rich Szerman
Silver Creek Realty
661-253-3000 x 2009
0 votes
Jason Hector, Agent, Northridge, CA
Sun Mar 4, 2012
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
Melissa Zava…, Agent, Escondido, CA
Mon Sep 19, 2011
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
Sara Mehrpou…, Agent, Los Angeles, CA
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
0 votes
Search Advice
Ask our community a question
Home Selling in Santa Clarita Zip Codes

Email me when…

Learn more