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Tag: short sale help

What is a BPO and How Will it Affect My Short Sale?

May 14, 2012

Hey guys, I’m Kelly Cook here with the Cook & Associates Real Estate Advisors, your :k1: short sale specialists. We specialize in helping valley homeowners across the area find alternatives to foreclosure through the means of a short sale. We can be found online at www.AZKCRealEstateGroup.com.

Now the question we are addressing today is what is a BPO? I’m sure if you found our site today, you have probably been doing some research and one of the most relevant topics to a short sale is a BPO. Everything of which a short sale is approved upon to some degree hinges on a BPO, so what is it? I’m glad you asked because we have all the answers for you.

A BPO stands for a broker priced opinion. It is basically a poor man’s appraisal or it is just below an appraisal. It is pretty official and looks like an appraisal but it isn’t done by a licensed appraiser and it doesn’t have to follow all of the exact guidelines of an appraisal. A BPO is usually pretty accurate as long as you get someone who is trained properly and knows what they are doing to actually spend the appropriate amount of time needed to do the evaluation of your home.

So a BPO stands from a broker priced opinion. It is usually done by a licensed real estate agent that the bank has picked out and trained to come by your house and to value your property so that the bank has an idea of what it is worth. Therefore they can judge if the offer they are looking at in their office, possibly in another state, is relevant or the same market value as what the property is based upon of what the evaluation of the BPO came in at.

So give us a call if you have any questions about it. The main thing to understand is you don’t have to pay for the BPO during the short sale process, the bank pays for that. We just simply have to make the house available when that BPO is ordered and that’s our job to handle that entire part of the transaction for you during the short sale.

Again, I’m Kelly Cook with the Cook & Associates Real Estate Advisors, your :k1: short sale specialist and I’m here to help. Call us at 480-442-9868 and we can walk you through the entire process from A to Z. You can also use our contact us on our website and there you can find our short or stay calculator. Here you can enter the information on your property and you can find out the value of your property from our stand point. You can also email us at info@cookandassociatesaz.com. I hope you found this information helpful and we look forward to talking with you soon. Take care and have a great day.

Can I Complete A Short Sale On My Seterus Serviced Mortgage

April 25, 2012

Hello everyone my name is Kelly Cook with the Cook & Associates Real Estate Advisors, your :k1: short sale specialist, thanks for your time today. I work with The Real Brokerage specializing in short sales and use my blog to provide valuable content to homeowners on their options for avoiding foreclosure. If you can no longer afford your mortgage, or if a short sale makes business sense, please stop by my website or contact me to discuss all of your options.

Today I wanted to talk about working with the servicing company Seterus on a short sale file and what to expect from their team. I have completed a ton of Seterus short sales dating back to when they were known as IBPM and LBPS. Since switching their name to Seterus I have had a lot of success with their team and have enjoyed working with their staff. Seterus uses a secure e-mail platform, similar to other lenders, that allows for better communication and sharing of documents for your short sale file. Their staff understands the current :k1: real estate market and works with our team to get short sales approved quickly for our clients. Compared to most of the lenders I work with Seterus is one of the best and working with our clients and producing fast approvals. Personally I enjoy working with the staff at Seterus and thanks to our high volume of short sales have built contacts with their staff if a problem arises.

If you have questions about your mortgage that is serviced by Seterus, or if you are already considering a short sale, please give me a call or send me your information through my website to get the right answers to all your questions. Thank you for your time today and I hope to hear from you soon at your :k1: short sale specialist.

You’re Not Stuck With Your GMAC Mortgage Anymore, Contact Me To Find Out Why

March 26, 2012

Hello everyone Kelly Cook here with the Cook & Associates Real Estate Advisors, your :k1: area short sale specialist, thank you for taking a minute to check out my blog today. My team and I are dedicated to educating :k1: homeowners on their options for avoiding foreclosure and I use my blog to pass along new information on this very topic. If you are behind on your mortgage, or already considering a short sale, take a minute to browse my website for more information or contact me directly to discuss your distressed property options.

For my blog topic today I wanted to go over some of my experiences with GMAC on a short sale file in :k1:. There are a lot of :k1: homeowners who may be underwater on their GMAC loan and I love working with their short sale team. GMAC uses an online platform called Equator to help streamline the short sale process and increase transparency and communication between our team and their staff. Because GMAC has a very large mortgage portfolio they do sometimes subcontract their short sales to a company called REDC. REDC does a great job of helping GMAC get these toxic loans off their books through the short sale process. I have had a lot of success working with GMAC in the past thanks to the leverage of the anti-deficiency laws in place in :k1:.

So give me a call today, or stop by my website, if it no longer makes business sense to continue paying your mortgage. You are no longer stuck in your distressed property and I would love to sit down and discuss all of your options for selling that underwater home. Thank you for your time today and I hope to hear from you soon at Cook & Associates Real Estate Advisors.

Who Pays The Realtor Fees In A Short Sale?

March 23, 2012

Hi everyone, this is Kelly Cook with the Cook & Associates Real Estate Advisors, your :k1: short sale specialist. We can be found online at www.azkcrealestategroup.com. We specialize in helping homeowners across the :k1: area find alternatives to foreclosure through the means of a short sale. Today we are discussing some related questions that we get asked a lot: “Who pays your fee if you help a short sale?”, “How do realtors get paid in a short sale?” and “Do we pay out of pocket for anything?”

The answer to these questions is that no money comes out of your pocket because the bank pays our fee through their net proceeds. For example, if we obtain an offer for $200,000 on your short sale we provide the bank with an estimated net sheet. One of the pieces of the short sale packet that the bank requires is this estimated net sheet. If we are able to give them an offer for $200,000 the bank wants to know what they’ll net out of it. We put together a net sheet form specifically showing the realtors fees, escrow fees, property fees, HOA transfer fees and any other miscellaneous fees deducted out. We put all of this in the net sheet for them ahead of time so they can see exactly how much they will net if they approve the short sale.

Again, the homeowner pays no money for our services to help them do a short sale and get out from under their mortgage debt. Please contact us today with any questions or check out our Short or Stay Calculator to help you determine if you should stay in your home or do a short sale. You can reach us on our website via the Contact Us form, email us at info@cookandassociatesaz.com or call me directly at 480.227.2028. We hope to hear from you soon and help you with your short sale in the :k1: area.

How To Get Started On Your Phoenix, Arizona Short Sale

February 29, 2012

Hello everyone this is Kelly Cook with the Cook & Associates Real Estate Advisors, your :k1: short sale specialists, thanks for taking a minute to check out my blog today. My team of short sale experts are dedicated to helping :k1: homeowners avoid foreclosure and I use my blog to pass along valuable information on the short sale process. If you are behind on your mortgage, or already considering a short sale, please take a minute to stop by website or contact me directly to discuss your options.

For my blog today I wanted to discuss how to get started on a short sale file in the state of :k1:. Seems like a pretty simple question and it can be if you follow a few easy steps. Number one, contact an experienced short sale agent in :k1: who has a history of getting deficiencies waived and short sales approved. Selling your distressed property is important and having the right agent will protect you in the long run and have the information you need to feel confident throughout the entire process. Second, you will want to gather, or fill out, all the paperwork needed to submit your short sale packet to the bank. By having all the proper financial information ready for your bank we can help ensure short sale success in a short amount of time. In fact, on my website we have created a customized checklist that will help you get all your ducks in a row when submitting your short sale packet. Third, we will meet at your home to go over the real estate listing documents to make sure we find a buyer fast in order to submit a completed packet.

Getting your short sale started is not that complicated and with my three easy steps you will be receiving an approval letter in no time. Stop by website or contact me today with any questions you may have on the short sale process. I’m Kelly Cook with the Cook & Associates Real Estate Advisors, thank you and have a great day.

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