Has anyone had a issue with Banks ridiculously overpricing REO's this year? Its almost getting laughable, the Brand New Custom built next door is cheaper than my 20 year old, Vacant for 5 years, deteriorating rapidly with deferred maintenance(mold) etc... Lets service it for 6 months, re-assign, then reassign again after another 6 months...What the Heck!
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Get used to it. This seems to be the new normal. Banks get 2 BPOs, your BPO and an appraisal and then price the property at 115% of the highest value. Many are trying to hit the 90 day value... many more just don't care... and in some instances, unqualified appraiser's screw it all up.
Try to get a reduction every time they ask for a new BPO or Monthly Report. Every. Single. Time.