short sale course / book

Foreclosures, Short Sales, Tax Foreclosures
1

??? I am looking for Short Sale home study courses that anyone can recomend. I have done 20 our so short sales. I am trying to do more. The major problem I am running into is the BPO or appisal coming in way to high.

For example on a deal I am working on the BPO came in around $190,000 (the bank would not tell me) however the bank said there best price would be $160,000. We wanted to buy the home at $135,000. The home needs about $10,000 worth of work and we think the property would be worth around $160,000 with the reparis complete. So what do you do now??? I have offered to by the notes direct from the bank at a discount. I am still waiting to hear back

ANYWAY…

Any home courses or books that go thought “how to do a short sale” I would be very intrested. I want to read and follow the there directions and see if it makes a difffrence.

THANKS

2

One problrm I’ve ran into with BPO’s is that the broker doing the BPO is also going to be the listing broker when it becomes an REO. So they would rather give a high BPO and get the listing. I’ve offered to pay for a real appraiser to go out. And they take me up on it some of the time. It’s well worth the cost.

3

Have you thought about trying to be there when the BPO needs to be done. If you put yourself as the point of contact when the BPO needs to be done, you should be in a good position. Have all your comps, backing with pitctures of the inside, any violations from the county etc. This should help your BPO become low. I understand that they will take the data with them. Hope this helps
steve