How A Columbus Short Sale Realtor Determines The Value Of Your Home

Columbus OH – It is very helpful in loan modification negotiations to know the fair market value of your home. You can use the value to convince your lender to accept your loan modification offer.

As an experienced Short Sale Realtor, I can help you determine the value of your home. Here’s how I do that.
http://stopforeclosureinstitutecolumbus.info/short-sale.html">Clickhere to discover how other sellers successfully did a short sale and avoided foreclosure.

First, I will look at all of the homes similar to yours that have sold in the last 6 months. I will pick out the 3 homes that are most similar to yours.

Here are a few things that will cause me to pick one home versus another: Home has very similar features, number of bedrooms, and number of bathrooms. I also prefer to use bank owned and short sale properties.

Yes, it is true that bank owned properties usually sell for less than non bank owned homes. But, if your lender denies your loan modification or short sale and chooses to foreclose, then they will be selling the house as a bank owned property.

I might as well use the comparable sales closest to how they will be selling the property. After I pick out the 3 closest comparable sales, then I do a Comparable Market Analysis.

First, I make adjustments to the other sales. For example, if a home has 10%more living space, then I might adjust it’s comparable value by 5-8%.

After I make all the adjustments I average the sales price of the 3 similar homes. That gives me the fair market value of the home.

This process is very similar to what appraisers do, but it is not an appraisal.Rather, it is a Realtor’s Professional Opinion of your home’s value.

The professional terms for it is: Broker’s Price Opinion. The short version is BPO. Is it a good valuation of your home? Well, the banks think so.

In fact, they use another Realtor’s opinion of the value to determine if they should approve or deny a short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at
mailto:robin.lemmons@kingthompson.com">robin.lemmons@kingthompson.com>.I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 614-741-2495

Discover how other sellers successfully completed a short sale and request a free consultation by http://stopforeclosureinstitutecolumbus.info/short-sale.html">clickinghere.

Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank.http://stopforeclosureinstitutecolumbus.info/loan-modification-secrets.html">Click here to request a copy.
Thanks for reading this, Rick and Robin Lemmons.

Rick and Robin are a Real Estate Team at Coldwell Banker King Thompson.

Phone: 614-741-2495. mailto:robin.lemmons@kingthompson.com">robin.lemmons@kingthompson.com>.

A Zest For The Best

View Our homes for sale at http://www.rickandrobin.com">www.rickandrobin.com>.

Rick & Robin Lemmons specialize in helping Columbus Homeowners short sale and never pay the bank another penny. Columbus Loan Modification Help, Columbus Short Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Columbus Short Sales: Loan Modification Loss Comparison Calculator

Columbus Short Sales: Loan Modification Loss Comparison Calculator

 

December 28, 2011

 

Columbus OH – If you are looking to convince your lender to approve your loan modification, then here is a tool you might find useful.

Here is a sample calculator you can use to convince your lender to approve your loan modification.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The numbers below are an example. You can get your home value from an experienced short sale realtor, or an appraiser.

Current Home Value: $240,000.

Current Prevailing Interest Rate on a 30 year mortgage: 4.02%.

Current monthly payment on a $240,000 mortgage at 4.02% interest over 30 years: $1,148.57.

What I am offering to repay monthly on my loan modification: $1,400. $1,400 over 30 years will repay a $292,538 mortgage at 4.02%.

That means your bank will actually make $52,538 by approving my loan modification.

Do you think that calculation will make it easier to get your loan modification approved by your bank? I think so. Use it in your negotiations with your lender.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at robin.lemmons@kingthompson.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 614-741-2495.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this,
Rick and Robin Lemmons.

Rick and Robin are a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495. robin.lemmons@kingthompson.com.
A Zest For The Best
View My homes for sale at www.rickandrobin.com.

Rick & Robin Lemmons specialize in helping Columbus Homeowners short sale and never pay the bank another penny. Columbus Loan Modification Help, Columbus Short Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice
Rick and Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Rick and Robin’s personal views and do not reflect the views of Coldwell Banker King Thompson.
This information on Columbus Short Sales: Loan Modification Loss Comparison Calculator is provided as a courtesy to our viewers to help them make informed decisions.