my short sale closing saved by bpo

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Permalink Reply by Jim Schneider on November 10, 2010 at 2:20am

Yesterday closed another short sale and knowing where the bpo would come in at was critical. Buyer's initial offer was $165k. My cma showed that $185k was the most likely number that a "lazy" bpo agent would come up with, just based on size, age, sale date, and proximity. We insisted on $185k, got it, and the rmv came in right at contract, no opportunity for the buyer to walk.

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