Playing Cowboys and Indians with a Short Sale.

We`ve been going back and forth with a lender who is relying on a $40 BPO to determine the actual sales price of a home we`re attempting to sell.
The Comps were sent,as well as inspection reports,roof reports and liens on the home.
The negotiator seems indifferent to the entire process and doesn't grasp how off this BPO is.

Maybe this is a new stall tactic by the lenders,who knows anymore?

I`m convinced the negotiator is very young as well. I keep receiving his hieroglyphics notes to me words like (U,Thanx,UR,CYA,COOL,G8eat!) are part of the vocabulary.
It`s disheartening at best and doesn`t accomplish anything for the Seller and Buyer.
In spite of the hoopla of Fannie and Freddie coming to the rescue, the world of "SHORT SALES" across the country are in limbo!

Suddenly the lenders seem completely lost as to how to proceed.
Many inside the "Loss mitigation Depts." get reassigned and the entire process begins once again.

The average time to complete a transaction is 4-6 months. How many buyers do you know will wait that long?
I`m not alone in our opinion. It`s wide spread.
The media and the pundits in Washington speak as if "help is on the way". If it is we`re at a loss for words.

Back to the negotiator. I sent him the Comps one more time with a reminder that I`ve been doing this for 10+ years, so i`m very familiar with how a CMA works.
We sent the lenders the most recent sales in the area.

Here is his response.
"the comps you sent are all smaller than our subject property. And based on what they either sold for or are listed for, the counter remains at 295k. Thanx!!!!!!!!!!!"

The negotiator is referring to "Comps" in the area that are 100 Sq/Ft. less than the subject property.
It`s unbelievable how these banks get anything completed anymore!

The Indians are circling the wagons.