hints » The Art of Short Sales

11Mar10 4 Tips to Influencing Your BPO (Broker Price Opinion) on Your Short Sale

Simply put, the Broker Price Opinion, or BPO, is an valuation or estimation of a property completed by a real estate broker or other licensed individual. The BPO is a “middle of the road” appraisal; and is more thorough than the AVM (Automated Value Model), a system that calculates a value in minutes with no [...]

6 Comments Posted by Nick in Education
Tagged appraisal, bank, banks, BPO, Broker Price Opinion, hints, lender, lenders, short sale, short sales, tips

27Feb10 Short Sale Questions and Answers!

Is a Short Sale RIGHT for the Borrower? This is a question often asked by both people facing foreclosure. Why would someone sell his or her house utilizing a Short Sale method? To put it simply, to avoid a foreclosure on the homeowner’s record and to decrease the length of time a lender will require [...]

4 Comments Posted by Nick in Education
Tagged credit score, deficiency judgement, Education, FICO, hints, information. lenders, law, negotiation, news, short sale, short sales, tips

15Jan10 7 Top Ways to Blow a Short Sale

by Guest Contributor Ted Akers of InvestorFundingSite I cannot take credit for this one, but thought it worth a Post for those of you pursuing Short Sales. Pre-list on eBay. While eBay has become a household name and is frequently used to drum up interest in short sales, it is also a time consuming headache [...]

No Comments Posted by Nick in Education
Tagged hints, short sale, short sales, tips

14Dec09 4 Ways to Improve Your Short Sale Package

From the Tip Bucket, here at Short Sale Artisan Tip #1: Research the Lender! Each lender is different, so make sure you know what the lender needs in a short sale package. Many lenders have specific procedures that need to be followed and documents that need to be completed for your package to be considered [...]

1 Comment Posted by Nick in Education, Links
Tagged advice, hints, short sale, short sale package, short sale packages, short sales, tips

8Dec09 How to Write a Hardship Letter that Gets the Bank to Say “Yes!”

A well-crafted and ironclad hardship letter is probably one of the biggest components to getting a short sale approval from the bank. Without clear description of the dire straights the borrower finds themselves in, no lender will willingly short the loan. So how do you go about writing a letter that will get the banks [...]

5 Comments Posted by Nick in Education
Tagged advice, hardship letter, hints, lender, negotiation, short sale, short sales, tips

30Nov09 Why do banks reject short sale offers?

I was reading this blog over the weekend and it gave some of the reasons short sales are rejected by banks: The point is short sale involves a loss in the part of the lender. That is why before they accept any request for it, your package, the reasons and all details of your short [...]

1 Comment Posted by Nick in Education
Tagged advice, hints, negotiation, offer, short sale, short sale package, short sales, tips

28Nov09 A collection of great links and resources for Short Sale agents, investors, and professionals!

The web is all about education and learning so let’s share some knowledge! Here are some great sites we have picked up on that help you do your job: Home Repair Cost Guide – useful when estimating repair costs to submit to the bank HUD-1 Official Form – the “official” form! Field Guide to Short [...]

3 Comments Posted by Nick in Links, Market News
Tagged advice, comparable search, crime, documents, hints, Links, packages, reference, repair, resources, short sale, short sales, tips

23Nov09 How technology can improve your Short Sales process!

Your competition is using it. The banks you are negotiating with are using it. Why aren’t you? I’m talking about leveraging technology for your short sale business. It’s almost 2010, and surprisingly the short sale corner of the real estate market is still in the dark ages. When we were doing the research for Short [...]