How do Lenders Determine the Asking Price?

Asked by Luetta Newnam, Broker, Dallas, TX Tue Dec 9, 2008

What information influences the lender owned asking price? If they use appraisals do they have a percantage they price above or below that number?

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Joshua Hanoud, Agent, Spring Hill, FL
Tue Dec 9, 2008
Lenders generally use Appraisals and BPO's to determine the market value for their properties....so...appraisers and real estate agents influence the lender's asking price.

I'm not aware of any percentages involved - but each lender is different.

Hope this helps!

Thanks,

-Josh
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