I'm the buyer of a short sale in which we made an offer in August of '09.  We never heard a word until the beginning of Jan when we were told we were being put into the new Equator system, the realtor needed our 1st five of our SSN and DOB, and that we'd have an approval within 7-10 days.  Then again, silence until the end of February where the sellers realtor called us again and asked for the same information.  The house was set to be auctioned on 3/24 so I've been trying to get ahold of the sellers realtor to find out what is going on.  Finally on March 5th he called and said a BPO had been done on March 4th, that a negotiator had been assigned, and that the auction was postponed until 4/22.  We then heard from the sellers realtor on 3/12 that there was no news other than the seller had updated all the information required and the negotiator was working on his end.  I thought once a BPO had been done it was possible to see the results.  How long does it usually take to get the BPO results back?  What happens next?  I've read a couple of threads where once the negotiator was assigned people had a response fairly quickly.  Any information would be wonderful at this point...

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Theresa,
Looks like I did post to the wrong place. Thanks for answering.

Excellent outside the box thinking. An empowered buyer! Wonderful. I'm sure the sellers agent is anxious to please you because if you walk, there goes a good part of his commission. And you're going to do a lot of the work for him. The seller isn't concerned about getting the highest possible price. The seller probably just wants the ordeal to be over.

Other than just word of mouth, how does one go about finding people who are behind on their mortgage? I know that people who bought houses in 2005-2006 are the most likely candidates.
Well....its a little secret but I will tell. I go down to the court house and get a print out of all the properties in a designated area that I am interested in, to see who is behind on their property taxes. Also, you can search the county property database for BFC properties.

R E said:
Theresa,
Looks like I did post to the wrong place. Thanks for answering.

Excellent outside the box thinking. An empowered buyer! Wonderful. I'm sure the sellers agent is anxious to please you because if you walk, there goes a good part of his commission. And you're going to do a lot of the work for him. The seller isn't concerned about getting the highest possible price. The seller probably just wants the ordeal to be over.

Other than just word of mouth, how does one go about finding people who are behind on their mortgage? I know that people who bought houses in 2005-2006 are the most likely candidates.
Thanks Theresa,
My admiration. My county doesn't make that information public. Only the homeowner can get his/her own tax info.

RE
so did you get an approval??
hi Keli,

i wonder if you got an approval?

i hope yes, then can you please let us know.. how long it took you to get approval after BPO?

thanks

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