Columbus OH – We are explaining the steps to
approving a short sale in 90 days or less.
Today, we're going to explain Step 2: Influence
the BPO. A BPO is a bank's version of an appraisal. They use that property
valuation to make a decision to approve or deny a short sale offer.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. columbusohshortsaleadvisors.com/
Many BPOs are inaccurate. As a result, many short sales are unnecessarily
rejected. The banks lose even more money when the property sells later on.
The problem is that the people doing the BPOs are rushing thru them. They are
visiting 100 or more homes per month and preparing an in depth property
evaluation on each one.
That isn't always enough time to properly evaluate each property. As a result,
many BPOs are inaccurate. An inaccurate BPO often leads to a failed short sale.
Let me explain why.
If a BPO says that a home is worth $250,000, but the actual value is only
$220,000, then the short sale will probably be turned down. You the homeowner
risks losing your home to foreclosure.
In one example, the people doing BPOs on a short sale consistently stated that
the property was worth $325,000 to $375,000.
Over the course of a year of being on the market, the most a buyer offered to
pay was $275,000. But, the bank wouldn't accept their offer because they
thought the house was being sold for less than it was worth.
The market continued to decline. The realtor continued to market the property.
However, now buyers were only offering $230,000. The short sale bank finally
accepted that offer.
Inaccurate BPOs cost that lender $45,000. In addition, they put a seller at
risk of losing their home to foreclosure. This is why your agent must influence
the BPO. Here is how they do that.
Your agent does not allow the person doing the BPO into the house without their
permission. They meet the person at the house and tell them why the home is
selling for the price it is selling for.
They explain the market conditions and explain what they feel the home is
worth. They give that person their own opinion of the value of the home.
Many times that person will use the information they have gathered for them and
turn it into the bank. That gives you a much better chance of a successful
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. columbusohshortsaleadvisors.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. columbusohshortsaleadvisors.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
Email: 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 endorsed 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 Step Two To Get A Columbus Short Sale Approved In 90 Days
Or Less is provided as a courtesy to our viewers to help them make informed
decisions.
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