More follow up re BPO A Buyer’s Price Opinion or BPO is an appraisal or evaluation done by a real estate agent, sometimes done by an appraiser, in which case it is called an appraisal instead. You always want to specifically request an interior BPO or appraisal. Some banks will have somebody drive by,… Continue Reading
Calling Your Lender So after you’ve put together a good package and you send it in, you want to call your lender within 48 hours. Typically it will not be put it in the system in the first 48 hours, unless you’re working directly with an individual. When you call, let them know you sent… Continue Reading
Proof of Funds Insist on some proof of funds by all buyers, that’s another important thing. Never accept an offer without some kind of proof that they buyer can actually close. A story is not good enough; the fact that you know the person is not good enough. You need to see: A bank statement… Continue Reading
The Offer Once you’ve listed your house, you’ve staged it and you’ve worked really hard, you may get an investor offer. At some point, you’re going to possibly have to fill out a purchase and sales agreement. There’s different ways you can do this. If you’re working with a realtor, there’s a good chance you… Continue Reading
Craigslist Another thing you should be doing when you our marketing your house is to use Craigslist. Craigslist is an absolute must. Craigslist.org is the website for listing homes, free classified listings of homes for sale. It’s an absolute must that you list your home in Craigslist. It’s free, it’s easy, it’s quick. You can… Continue Reading
Working with an agent The next step is all the interactions of listing your house. Listing your house is not mandatory to sell it, you can sell it yourself. However, having a realtor is sometimes required by your lender. If you have a FHA loan it’s required to have your house listed on multiple listings… Continue Reading
First call to lender Once you’ve gotten the idea of how much time you have the first real action you need to take is to call your lender. You need to understand where they are what they want to do understand their intentions, and get a game plan on how exactly to work with them. Article… Continue Reading
Overview Before you start marketing for an offer you should first talk to your lender about a short sale. You need to get all the necessary information about your lenders requirements for doing a short sale. I will discuss exactly how to have that conversation. I am also going to discuss special marketing techniques for… Continue Reading
Why should you be able to collect money if your bank is taking a loss? A better question is why would you want to go to the pain of negotiating your own short sale and not get paid for it? You wouldn’t be in foreclosure if you weren’t having a hard time. Collecting money could… Continue Reading
Situational success factors are the factors that can change how successful you are at getting a short sale completed. Now this doesn’t have to do with you, but it has to do with your own situation. Like what kind of loans do you have? Are there any extra leans? Who owns the loans? Who services… Continue Reading