Stop Foreclosure: Avoid Disaster When Lender Does An Appraisal or BPO!

Westminster CO – One of the biggest threats to your short sale is a high appraisal. Which is why your short sale broker needs to make sure the appraisal gets the right input!

There are a lot of opinions on how to ensure the appraisal has the most correct and accurate data. You need to ask and make sure your agent is willing to put the right check and balances in place during this evaluation by the banks.

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

What I mean by the right "check and balances" is, the listing broker needs to pay attention as to who is scheduling to view the property. In the early stages of the short sale, the short sale team needs to know if the lender is going to perform an appraisal or a BPO (Broker Price Opinion) to obtain value. Why?

It is important to know if you will be having a real estate agent setting up the showing to perform the BPO, or if an appraiser will contact you. Too often, when a real estate agent sets up the showing, the listing broker does not KNOW that they are going to perform the BPO. Thus, the listing broker does not provide valuable input to that real estate agent, and then it is possible the right information on market value does NOT get into the BPO!

If an appraiser is setting up the showing, the listing broker MUST provide that appraiser info on market conditions, property condition (what must be repaired or replaced), and good relevant sold comps! Again, too often listing brokers get LAZY and do not perform this extra work!!

What does a listing broker do? When a real estate agent sets up a showing, they can be asked if they are going to view the property for a BPO! Discover why they are wanting to view the property! Especially, in the early stages of the listing and you KNOW the lender needs to get one done for the short sale approval.

Doing this extra work, will assist in getting the lender to a "realistic value" based on YOUR input to the BPO and the appraisal. So, when offers do come in, they will be closer to your listing value and the lender's perception of value! Avoid the high BPO and Appraisal values because the listing broker failed to do extra work!

These type of efforts will help make the short sale process less difficult to work buyers' offers and may help expedite the short sale process. Do it right, from the beginning!!

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 denverforeclosureblog@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 303-521-0984

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

Thinking about a loan modification? Our Westminster loan modification kit has the instructions you will need to get a loan modification approved with your bank. Request your FREE loan modification guide, below!


Thanks for reading this, Dan Hopper.

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

Dan Hopper specializes in loan modification assistance and short sales in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.

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Important Notice

Dan Hopper, Remax Alliance, 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 Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Stop Foreclosure: Avoid Disaster When Lender Does An Appraisal or BPO!, is provided as a courtesy to our viewers to help them make informed decisions.