Has anyone ever worked with Saxon Mortgage? Any Idea what percentage of a BPO they will accept?
Thanks
I don’t think any bank has a magic BPO percentage that they will accept on every deal. There are so many variables on each property that differ that this would be quite impossible.
Rather than looking for a percentage of the BPO, work with the numbers of the specific deal. What are the deficiencies in the property which devalue it? Back taxes, structural damage/repairs, market value decrease. These are just some of the factors which you can use to justify a lower offer.
GooD Luck! :beer
As usual Foreclosure Negotiator hit it on the head. No bank has hard and fast rules. The price really hinges on the BPO or appraisal and your ability it influence the process.
There is a right way to do this and a wrong way. With regard to what the lender will ultimately accept it would be nice if they had a flat formula but they don’t.