Copy of Bids Supporting SP > LP

[ZZGAMAZZ]

The subject being sold is the basis of a mortgage transaction.

The S/P is > the L/P with no sales concessions ($335K...$350K).

Market analysis has not yet revealed declining/stable/increasing.

Per the listing and selling agents the s/p was bid-up above the l/p becuase of multiple offers, although the original list price 12 mo ago was $620K.

My job is to filter information and to determine what is truthful and accurate. Is it appropriate to ask for a copy of the bids even with the confidential info blacked out.

My interest goes to buyers' motivations.

 

[TJSum]

It is an excellent idea to get the information from the competing contracts. When the market was rising during the boom I routinely would ask the listing agent for copy's of competing contracts or a written letter from the agent describing the competing offers for the file. It is just another piece of the puzzle.

 

[ZZGAMAZZ]

I sent an e-mail to one of the agents, asking her why the price was increased. Her reply was "What's going here. What are you trying to do? Why don't you just do the appraisal if you know how. Nobody ever asked me about the selling price. Also why do you want to know about sales concessions? What business is that of yours? No appraiser ever needs to know that information."

I'm sure she's contacted the broker by now to complain about his choice of appraisers. And I'm sure that subconsciously it will affect his decision next time an assignment is available.

 

[TJSum]

I would just tell them it is needed data to better support my value opinion. The only ones that were not eager to help and reveal all was, well, those who were trying to pull a fast one.

 

[Rlong]

Wow... that goesn't sound "fishy" at all!

B in CO

 

[Mr Rex]

Under GLB, that info (the other bids) is most likely confidential and not to be disseminated.

 

[Webbed Feet]

I sent an e-mail to one of the agents, asking her why the price was increased. Her reply was "What's going here. What are you trying to do? Why don't you just do the appraisal if you know how. Nobody ever asked me about the selling price. Also why do you want to know about sales concessions? What business is that of yours? No appraiser ever needs to know that information."

I'm sure she's contacted the broker by now to complain about his choice of appraisers. And I'm sure that subconsciously it will affect his decision next time an assignment is available.

ZZGA,

With everyone knowing my wonderful personality and winning ways.... ... I am sure you can understand that the last time some real estate broker pulled crap like that on me I printed it out and personally paid a call on the brokers managing broker. I took with me just a wee little bit of the stuff that requires appraisers "analyze" the subject transaction. My message was the involved broker could try this over again with me and be civil, or the brokers entire email will be an exhibit in my report for the underwriters to see.

Funny how a fast a new tune can be whistled when people are called out on that kind of crap.



Webbed.

 

[Tony V]

I sent an e-mail to one of the agents, asking her why the price was increased. Her reply was "What's going here. What are you trying to do? Why don't you just do the appraisal if you know how. Nobody ever asked me about the selling price. Also why do you want to know about sales concessions? What business is that of yours? No appraiser ever needs to know that information."

I'm sure she's contacted the broker by now to complain about his choice of appraisers. And I'm sure that subconsciously it will affect his decision next time an assignment is available.

I would e-mail her a copy of page one of a blank report and ask,

If I don't need this info why would it be top half of the first page of the report....I would also include the portion of the certs that apply....
I would CC the broker the entire e-mail showing where the problem is....