Keep Your House As Is During A Short Sale

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. A lot of homeowners going through short sales have heard of people that are in foreclosure that end up selling all of their appliances and stripping the fixtures. These homeowners frequently ask us if this is something they can do. The simple answer to this question is no, you can't strip the fixtures and sell all of the appliances. There is a person that's going to purchase the home in as good condition as you've been keeping it. Leave the home how you would want to find it if you are the buyer. They are actually your saving grace and without them there would be no short sale, so you want to be able to turnover a home that they can be proud of. Some people do elect to sell their appliances, but you have to…

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How Close To The Trustee Sale Date Can You Initiate The Short Sale Process?

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. A lot of people have asked me how close to the trustee sale date can you initiate the short sale process. The trustee sale date is known as the foreclosure sale date. There's not an easy answer to that, it really depends on the bank that is servicing your loan. For the most part, as a general rule, we need at least ten days. Ten days prior to the trustee sale date to initiate that short sale and have a chance of getting it into the system and being able to get an extension on that short sale date. By no means does that mean hang out and live in your house until ten days before and then say you would like a short sale. Give your agent as much time as possible before that trustee…

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The Short Sale Process after the BPO

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. I'm here to talk to you about what happens after the BPO or Broker's Price Opinion. After the BPO is ordered, it typically takes about a week and a half to 2 weeks for that BPO to come in with a value to the short sale negotiator. Once the negotiator gets the BPO, then they are able to take a look at what we have on the table. It's a purchase agreement, or an offer on the property and the BPO which is the broker's opinion on what the property is worth. Then they weigh them and they will make one of three decisions. The first decision is an approval. Once we get an approval then approval letters come out about a week and a half to two weeks after. At that point we can open…

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