Bank of America
Short Sale Price Raised From 174k to 190k After Full Price Offer

So we decide to try to do the right thing and buy a short sale/foreclosure home, we felt instead of building, we can also help get another home off the growing list of houses for sale, we find a home in Queen Creek with a list price of 174k. We loved the house but it needed work, so we put in a full price offer fully expecting to move in it in the next few months, 1 week later we hear from Bank of America stating that due to the appraisal, they want 190k!!! Wtf! How can they add 15k to the price when it was listed at 174???

Like I said, it needed a roof, pool added etc and we were willing to the work, they stated that the listing agent find another buyer for the house, it is now back on market for 190k mind you, been on the market at 199k since sept with 0 offers, price dropped in dec/jan 2 174k - still 0 offers until end of feb when we looked at it, my agent stated that the banks are doing it all the time and no one is watching them!!! To me that is false advertising, listing for 174 giving a full price offer and them coming back wanting 190k!

We were really mad as it had good bones and we could fix it up - it needed at least 20k in repairs/upgrades!!!

Company: Bank of America
Country: USA
Site: bofa.com

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