Hollister CA – Some people think short sales represent a bargain in the real estate world. Others have said 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’m sure you are wondering why, so let me explain.
Click here to discover how other sellers successfully executed 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’re 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 why. Many times it’s because the lender thinks the property is worth more than it actually is. In that case, we have to appeal the BPO value.
We send the lender our own BPO and all the information to back up our value. Most lenders will review it, and many 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 it uses our BPO for the proper value.
The entire short sale process is actually fairly simple. If the short sale lender declines an offer, ask why. You then have to demonstrate why the lender should accept the offer. If you have good data to back up your case, the lender 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’re selling. That way we can send updated information to the lender. When we keep lenders up to date on what’s going on in the neighborhood, they’re able to make a better educated decision on the short sale.
Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.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 (831) 636-8858.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification?Our Hollister loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail to israel@ighomes.com to request a Free Copy.
Or, click here to request a copy.
Thanks for reading this.~Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858. israel@ighomes.com.
View My homes for sale at www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Gonzalez’s personal views and do not reflect the views of Beale Properties.
This information on “Can Your Hollister Short Sale Realtor Beat the 80% Short Sale Failure Rate?” is provided as a courtesy to our readers to help them make informed decisions.
