Cannot comment as I was not privy to the appraisal. The neighborhood has a huge diversity with regards to comps due to view lots that vary with the side of the street you are on. It also has variances due to streets that back to busier streets. Furthermore the comments indicate that the home was pretty stripped down. Unlike you, I do not jump to conclusions, I was not in the home, I could not view the home, nor was I part of the bidding process. There are not any sold comps that match this size home with a view lot. There are sold comps for bigger homes with view lots that are much higher. Sounds to me like your beef should be with the appraiser who put it at 760k.

I would suggest that you alleviate your concern and call the listing agent to find out more information. You can also ask one of your realtor friends to run a comp analysis.

People do not have to participate in any short sale process. The ones that did in this case got the home. For better or for worse, (and obviously for worse) they took advantage of the current system and are living in a nice home with an ocean view at a great price.

Or they could have listened to you.

I am not advocating that the current system works. It does not, it perpetuates bad practice by some realtors.

I had a short sale awhile back similar to this but I did not double end it. However there was a substantial payment that needed to be made to a second lien holder. We had like 8 offers on the home and every single one of them balked at that payment with only a single exception.

I know it is much easier to jump to conclusions then find out all the facts.