If they should remove those appliances w/o your approval, then they are in breach of the contract.Remedies include: 1) Not removing the appliances. 2) A cash contribution at closing from the sellers for fair value of the appliances 3) Commission deduction from the listing agent to cover cost for replacement of appliances 4) or a reduction in the offer amountFirst, in my experience, Bank of America (Countrywide) is probably going to want the sellers to sign a promissory note in lieu of a deficiency.

If it is inferior to the local comps, you can use the deficiencies.

Also, there may be deficiency judgments to consider depending on state laws.

Although it might be true that the lawsuit for recovering a deficiency can be brought after the sale concludes, the lender has more leverage before approval of the sale.

This is what it means:"IE" Insured with Repair Escrow means there are some deficiencies that do not meet the FHA MPS.

As you know, it use to be that REO required an appraisal and the BPO was born after lenders were crying about the expense of throwing more good money in a bad loan and ultimately sticking the consumer with a deficiency...probably spun as a consumer benfit.

You can request a copy of any inspection or appraisal, it's not so much as they try to hide deficiences as they just have never gone in the property in many cases and don't have specific knowledge of it as other owners would have.

The property is full payment for the cancellation of the debt, like a trade, so there is no deficiency.

Is there someone in your office that is experienced and has a good track record of successful outcomes and no or low deficiency judgments?

You should include her in your package, but if there ends up being a deficiency (shouldn't be) make sure the deficiency is not attached to her.