Antioch CA – We are explaining the steps to approving a short sale in 90 days or less. Today, we’re going to explain Step 3: Find out the BPO value.

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

This seems fairly simple. But, most agents never find out this number. as a result, they don’t know why their short sales are not being approved.

We talked to another agent a little while ago. “I’ve got 5-6 short sale files under contract. But, none of them are being approved.”

“The short sale negotiation company is working on them, but they can’t get any of them approved. What do I need to do?”, he asked us.

We started asking him for more info on the files. “What are the BPO values?” What percentage of that are the homes selling for?” What type of loan is it?”

Now, why do we ask these questions? Because that is how you determine what the problem is. We’ve negotiated over a hundred short sales with all the different lenders.

We know why the banks accept short sales and why they turn them down. On our short sales, the majority of the reason an offer was turned down was because of a high BPO.

The bank thinks the home is worth 200k, but the buyers won’t offer any more than 170k. The offer is not going to be accepted.

But, sometimes they will accept an offer on a 200k BPO if it is above 180k. It does happen, but not very often. 190k on a 200k BPO happens a lot more often.

If you don’t know the BPO value, then you don’t know why they are turning down your short sale offer. You don’t know what it will take for them to approve it. You are shooting in the dark.

This is the case whether you are negotiating the short sale yourself, or having someone else do it for you. Either way, your chances at success are much lower.

Here is how to find out the BPO value. First, ask the person at the lender that is negotiating the short sale. Most of the time they will give you that information.

If the short sale loan is a VA or FHA insured loan, then you can get a copy of the FHA or VA appraisal. (The banks use those to determine the property’s value instead of a BPO.)

If the lender will not give them the value, then the home owner can request a copy of the BPO. Most banks will give them that information because a homeowner is legally entitled to it.

They may not give it to the homeowner’s agent, but they will give it to you. Once you have that information you can determine if the short sale offer is reasonable or not. 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 shonntsellshomes@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 925-754-1611

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

Thinking about a loan modification? Our Antioch 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, Shonn Thompson.

Shonn is a Real Estate Agent at Better Homes Realty. Antioch Short Sales Realtor:

Phone: 925-754-1611. shonntsellshomes@gmail.com.

Experience and Results That Will Move You!

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

Shonn Thompson specializes in loan modification assistance and short sales in Antioch California Antioch Loan Modification Help, Antioch Short Sales. Antioch Short Sale Realtors. Pittsburg Loan Modification Help, Pittsburg Short Sales, Pittsburg Short Sale Realtor Brentwood Loan Modification Help, Brentwood Short Sales, Brentwood Short Sale Realtor Antioch CA Short Sales. Antioch Realtor.

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Important Notice

Shonn Thompson, Better Homes Realty, 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 Shonn’s personal views and do not reflect the views of Better Homes Realty.

This information on Step Three To Get A Antioch Short Sale Approved In 90 Days Or Less is provided as a courtesy to our viewers to help them make informed decisions.