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Step Two To Get A Northeast OH Short Sale Approved In 90 Days Or Less

Northeast 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.

Many BPOs are inaccurate. As a result, many short sales are unnecessarily rejected. The banks lose even more money when they 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. The 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 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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