Ouch! Why not escalate the file and get it approved. Here's an example of how it worked for the Stop Foreclosure Institute.
Discover how other sellers successfully did a short sale and request a free consultation by clicking here.
We had a house on the market for 4 months. We started the price at 200k and slowly brought it down to $169,900. We finally got an offer for $159,000. Since I knew the bank's appraiser's valuation, I knew the offer wouldn't work.
The bank's appraiser said the house was worth $195,000. Yes, after we had had the house on the market for 4 months. Because I knew the loan owner's guidelines, I knew that that current offer at $159,000 didn't have a shot at getting accepted.
In order to get this file thru, I had two things to do.
1. Convince the bank that their valuation was inaccurate and that they should order a new value.
2. Escalate the file.
To handle Part 1, I send my own opinion of value, also called a Comparable Market Analysis, along with comparable homes for sale. I explained that the valuation they were using was inaccurate and that they needed to order another one.
Here is what I did for Part 2. Then, I asked for their supervisor's contact info. Remember, most of our communications are e-mail. Two-thirds of the time they will e-mail me back the supervisor's info. The other one-third of the time they will just start doing a better job on the file.
If the new bank appraiser's valuation comes back within range, they will approve the file and we can close. On the subject house, the new appraiser's valuation came back within range. We received an approval on the short sale and it closed a little while later.
Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at email@example.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 805-208-0823.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Ventura County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.
Thanks for reading this,
Chris B Johnson.
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Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. firstname.lastname@example.org.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County short sales. Ventura County Short Sale Realtor Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor. Chris also provides Home Affordable Foreclosure Alternative Loan Modification and short sales help, Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Realtor, Moorpark Short Sale Realtors, Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor, Certified HAFA Specialist, Moorpark Short Sale Realtor, Thousand Oaks Short Sale Realtor, Westlake Village Short Sale Realtor, Newbury Park Short Sale Realtor, Camarillo Short Sale Realtor, Simi Valley Short Sale Realtor, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. You can find The Stop Foreclosure Institute of Ventura County at 587 W. Los Angeles Avenue, Moorpark, CA. 93021
Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Johnson's personal views and do not reflect the views of Prudential California Realty. This information on Ventura County Short Sales: What to do after the lender rejects the short sale offer is provided as a courtesy to our viewers to help them make informed decisions.