Columbus OH – Some people think that short sales
represent a bargain in the real estate world. Some people have said that banks
sell short sales for below market value because they want to avoid foreclosure.
That isn't true. Yes, banks do prefer to sell a property in foreclosure as a
short sale. They know that short sales usually sell for more money than a
foreclosure. I am sure you are wondering why. Let me explain.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohioshortsaleadvisors.theshortsaleguide.com/
The problem is that a lot of time the BPOs are inaccurate. A former short sale
negotiator called the process a "BPO Mill." The lenders care more
about cost than accuracy. If your short sale realtor doesn't understand the BPO
process, then you are at risk.
Here is what we do to avoid BPO problems. We prepare our own valuation of the
property. We give that valuation to the person doing the BPO. Then, if the
lender declines the short sale, we ask them why. Many times it is because they
think the property is worth more than it actually is. In that case, we have to
appeal their BPO value.
We send them our own BPO and all the information to backup our value. Most
lenders will review it. They may order a new BPO. Or, they may try to get ours
"validated." That means their valuation department will double check
everything. If the valuation department agrees, then they use our BPO for the
proper value.
The entire short sale process is actually fairly simple. If the short sale
lender declines an offer, then you ask them why. You then have to demonstrate
why they should accept the offer. If you have good data to backup your case
they will re-consider. That gives your seller a better chance at a successful short
sale outcome.
We always track all the sales activity in the neighborhood and surrounding area
of the property we are selling. That way we can send updated information to the
lender. When we keep them up to date on what is going on in the neighborhood,
they are able to make a better educated decision on the 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 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. http://columbusohioshortsaleadvisors.theshortsaleguide.com/
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. http://columbusohioshortsaleadvisors.theshortsaleguide.com/
Thanks for reading this, Rick and Robin Lemmons.
Rick and Robin is 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
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Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
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 Can your Columbus Short Sale Realtor beat the 80% short
sale failure rate? is provided as a courtesy to our viewers to help them make
informed decisions.
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