Nationstar Short Sale Confusion

[Lee Haskins]

I have an offer on a short sale property that I found through my direct mail marketing. Short sale package was put together by my realtor who specializes with these but even this situation has her stumped.

Home has a balance of 65k owed for remaining balance with an ARV around 87k. The home needs approximately 25k in renovations with most of that needing to bring the house up to code. I put in an offer at 35k, which was in line with other offers once she listed the property on the MLS. Sellers accepted my offer but the bank has countered at 64,500, roughly $500 short of balance owed on mortgage. My realtor has tried to challenge the BPO but the bank says that they are not moving off their price and would not accept a secondary appraisal, even if I paid for it. I was at the home to let the realtor in when he came to do the BPO and I had to point out issues with the house that he was skipping over as he was just trying to hurry through it.

My question is, is this a tactic that they could be using to get higher bids or is it that they are truly pushing for this price? 

[Wayne Brooks]

BPO's are notoriously sloppy.....the agents get paid about $50 per BPO, so how much time do you think they put in.  The lender will probably eat 10% or more in commissions, closing costs, etc.  They can ask for whatever amount they want, whether it makes sense or not.