Another Short sale story...where a BPO done from a-far was the kiss of death



Working on a short sale in a project where the last sale was over a year ago, I advised the seller of the likely selling price and asked for the price adjustment...subject to his lenders acceptance on a short sale offer.



90 days from listing date (showing this was still not a give away price) a 90% offer is made, with the only condition being the seller lender accepting the short sale. Two months… Continue

The Short sale and the Sole Proprietor

I have been working on a short sale for several months, and the seller is truly in a hardship position…stuck between a rock and a hard place.



He is paying an interest only note on land at 8%; he was able to arrange a 90% loan when the property was purchased directly from a developer (not from a Realtor) for $400,000 three years ago.



The current market value is approximately half the purchase price, or $160,000 less than the… Continue

Saxon..the Oxen of the Short sale industry.



If you have an Oxen in your field....you will be expected to feed it and protect it everyday. For these daily chores you will be ignored, pushed around and drooled upon. If you meet one of these lumbering creatures while traveling in the road, you may honk all you wish but you will not be allowed to pass...traffic will come to a grinding halt.







The lesson of trying to work with oxen is this,,they will tear up your… Continue