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Can your Northeast OH Short Sale Realtor beat the 80% short sale failure rate?

Northeast 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.

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 iandymorris@gmail.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 (440) 348-5500

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

Thinking about a loan modification? Our Northeast OH 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, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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