Huntington Beach CA – The Stop Foreclosure Institute sometimes receives e-mails from people that short sales are impossible. Well, short sales are not impossible. They just take time. Here is an example.
The Stop Foreclosure Institute was attempting a short sale on a property. The bank initially turned down an offer for $550,000 on the house.
Today it looks like an offer for 530K will be approved. Why is that? The first offer was submitted 3 months ago.
The bank initially only did a drive-by broker price opinion (BPO) to get their value. The broker thought the house was worth $629,000. The lender rejected the offer because it didn’t meet their guidelines. The buyer was scared off and walked, not even wanting to counter the bank.
We put the home back on the market and obtained another solid offer now for $530,000. The bank re-opened the short sale process and now ordered a full interior BPO. This broker thought the house was worth $550,000. A full interior BPO is much more reliable and property values have also continued to decline..
The bank now looks to be approving the short sale offer. As you can see, short sales can get approved with a little luck, time, and persistence. With some luck, the bank will see that the short sale makes financial sense and approve it.
We’ve seen over 50% of our short sales sell, get approved, and close in 3-4 months. And that’s the first attempt at negotiations.
The majority of the remainder will get approved, but we will have to submit more offers.
Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Tony@HunthausenGroup.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 714-334-7808
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Huntington Beach 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, Tony Hunthausen.
Tony is a Real Estate Broker Associate at Remax Select One. Huntington Beach Short Sales Realtor:
Phone: 714-334-7808. Tony@HunthausenGroup.com.
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Tony Hunthausen specializes in loan modification assistance and short sales in Huntington Beach California. Huntington Beach Loan Modification Help, Huntington Beach Short Sales. Huntington Beach Short Sale Realtor. Huntington Beach CA Short Sales. Huntington Beach Realtor.
Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Tony Hunthausen’s personal views and do not reflect the views of Remax Select One.
This information on Yes, Banks Are Approving Short Sales in Huntington Beach is provided as a courtesy to our viewers to help them make informed decisions.