Screwed on a BPO amount with Chase

[Dale T.]

Anyone have any good ideas to get the value of the BPO changed that was just completed? This agent went to the Property and Jacked the amount of this house so high that I can even imagine where she pulled comps from. The bank did an exterior drive by also and actually came in lower then her.

But now there is no way this will ever sell. Wells and a few other banks have dispute dept. but I do not think Chase has one.

Any Ideas how we can get this down? We sent in comps and an offer an it was flat out denied. I either have to wait 90 days for the next one or come up with a better idea. Thanks

[Maryann L.]

I havent had a high BPO from Chase but I've had TWO from IndyMac/OW and I fought it. I supplied complete CMA's from two separate Realtors and other stats surrounding the property. The listing agent wrote me a statement that the property would never sell for the price the bank wanted.

Once we did that they ordered a 2nd bpo. On one property we got them to order a 3rd BPO. The one we got the 2nd BPO on came in $60,000 lower the second time. Now we still need to negotiate that down, but it's WAY more in the zone we thought it could be and the 3rd bpo property we haven't heard back on yet.