Short Sale Letter Foreclosure
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FAQ
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.
Documents Required for a Short Sale Package An Executed Listing Agreement. Fully Executed Purchase Contract. Seller's Hardship Letter. Authorization Letter. Last Two Bank Statements. Tax Returns and Wage Documentation. A Closing Disclosure.
Here's how to short sale your home in California Qualify for a California short sale. ... Begin the short sale process. ... List your house on the market. ... First level offer review begins. ... Proceed to the Second Level Offer Review. ... Negotiate. ... Close on the house. ... If required, get help with the short sale process in California.
Before you purchase a short sale, you must make sure that you know of every person or entity that has a claim to the property (these are called lienholders). So, you should also double-check that there are no other liens on the home. You can ask the seller, their agent or lender for this information.
Broker's Price Opinion (BPO) The lender hires a real estate agent, broker, or appraiser to assess the property and give their professional opinion of its value to the lender.
