Any Ideas On This???

Foreclosures, Short Sales, Tax Foreclosures
1

I have a seller that is wanting me to do a short sale. The problem is that another investor came in a month ago and did not influence the BPO properly. He allowed the home owner to walk the BPO agent around and tell him all the rehab they have done on the property.

The BPO came back at 170K and the house is worth roughly 180 -190K max. The investor told the homeowner that the lowest the bank would take is 165K. It needs very little repairs.

The home owner knows a short sale is the only way out.

Is this a dead deal…any ideas on how to get the bank to take less?

2

I personally pass on deals if I’m not the one present during the BPO. This is the most critical part of the short sale process and the personal interaction at the time of inspection is an absolute must.

3

Walk. ther eis no margin in this deal at all.