How To Make A Short Sale Offer

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If you are interested in buying a short sale the best way, or stop a foreclosure by Selling with a Short Sale, please visit my website at: www.realestatesolutions2012.com We offer solutions that help …

If you are interested in buying a short sale the best way, or stop a foreclosure by Selling with a Short Sale, please visit my website at: www.realestatesolutions2012.com We offer solutions that help the Buyer, Seller, and Real Estate Agent.

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  • 1. ==== ====To learn how to guarantee a "Short Sale", check this out!http://adf.ly/4bZmD==== ====The first step is to determine the Fair Market Value of the property (FMV). This is established bylooking at sold comparable properties in the area of the subject property. Whats key here is tocompare homes with a close square footage, the same amount of bedrooms and bathrooms, andother characterizing features. You will want to use homes sold recently (within the last 12 months)and within 2 miles of the subject for the most accurate comparison. Remember, getting accuratecomps is key to establishing the FMV of the property.Your next step is to determine the After Repair Value (ARV). This is somewhat comparable to theFMV with the difference being made up of the amount of the estimated repairs the property willneed in order to sell fast. You may hear real estate agents using FMV more often and real estateinvestors using ARV.Next is to figure out the Broker Priced Opinion (BPO). This is perhaps the single greatest valuedetermining factor in your short sale offer. This is how the lender will determine what the propertyis worth on paper. The BPO is ordered by the lender and is performed by a real estate agentassigned to the property.Lastly you must take into consideration the minimum accepted net offers based loan type of BPOor FHA appraisal.* VA 88%* FHA 82%* Freddie Mac (FDMC) 92%* Fannie Mae (FNMA) 90-92%* Conventional Loans 80% (no set limit)These are net to the bank. Take all of the above mentioned factors into consideration and makean offer!Alex Nghiem is the co-founder of several Real Estate investment websites and is a well respectedcoach. His latest project is the just completed Wholesale Manifesto. Learn about Short SaleTraining [http://www.dcbonuses.com] Here.Learn Real Estate Short SellingGet over $450 of short sale training for free at: [http://www.dcbonuses.com]
  • 2. Article Source:http://EzineArticles.com/?expert=Alex_Nghiem==== ====To learn how to guarantee a "Short Sale", check this out!http://adf.ly/4bZmD==== ====