![==== ====
To learn how to guarantee a "Short Sale", check this out!
http://adf.ly/4bZmD
==== ====
The first step is to determine the Fair Market Value of the property (FMV). This is established by
looking at sold comparable properties in the area of the subject property. What's key here is to
compare homes with a close square footage, the same amount of bedrooms and bathrooms, and
other characterizing features. You will want to use homes sold recently (within the last 12 months)
and within 2 miles of the subject for the most accurate comparison. Remember, getting accurate
comps is key to establishing the FMV of the property.
Your next step is to determine the After Repair Value (ARV). This is somewhat comparable to the
FMV with the difference being made up of the amount of the estimated repairs the property will
need in order to sell fast. You may hear real estate agents using FMV more often and real estate
investors using ARV.
Next is to figure out the Broker Priced Opinion (BPO). This is perhaps the single greatest value
determining factor in your short sale offer. This is how the lender will determine what the property
is worth on paper. The BPO is ordered by the lender and is performed by a real estate agent
assigned to the property.
Lastly you must take into consideration the minimum accepted net offers based loan type of BPO
or FHA appraisal.
* VA 88%
* FHA 82%
* Freddie Mac (FDMC) 92%
* Fannie Mae (FNMA) 90-92%
* Conventional Loans 80% (no set limit)
These are net to the bank. Take all of the above mentioned factors into consideration and make
an offer!
Alex Nghiem is the co-founder of several Real Estate investment websites and is a well respected
coach. His latest project is the just completed Wholesale Manifesto. Learn about Short Sale
Training [http://www.dcbonuses.com] Here.
Learn Real Estate Short Selling
Get over $450 of short sale training for free at: [http://www.dcbonuses.com]](https://image.slidesharecdn.com/shortsaletips-howtomakeashortsaleoffer-120107180620-phpapp02/85/how-to-make-a-short-sale-offer-1-320.jpg)
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How To Make A Short Sale Offer
- 1. ==== ==== To learn how to guarantee a "Short Sale", check this out! http://adf.ly/4bZmD ==== ==== The first step is to determine the Fair Market Value of the property (FMV). This is established by looking at sold comparable properties in the area of the subject property. What's key here is to compare homes with a close square footage, the same amount of bedrooms and bathrooms, and other characterizing features. You will want to use homes sold recently (within the last 12 months) and within 2 miles of the subject for the most accurate comparison. Remember, getting accurate comps is key to establishing the FMV of the property. Your next step is to determine the After Repair Value (ARV). This is somewhat comparable to the FMV with the difference being made up of the amount of the estimated repairs the property will need in order to sell fast. You may hear real estate agents using FMV more often and real estate investors using ARV. Next is to figure out the Broker Priced Opinion (BPO). This is perhaps the single greatest value determining factor in your short sale offer. This is how the lender will determine what the property is worth on paper. The BPO is ordered by the lender and is performed by a real estate agent assigned to the property. Lastly you must take into consideration the minimum accepted net offers based loan type of BPO or FHA appraisal. * VA 88% * FHA 82% * Freddie Mac (FDMC) 92% * Fannie Mae (FNMA) 90-92% * Conventional Loans 80% (no set limit) These are net to the bank. Take all of the above mentioned factors into consideration and make an offer! Alex Nghiem is the co-founder of several Real Estate investment websites and is a well respected coach. His latest project is the just completed Wholesale Manifesto. Learn about Short Sale Training [http://www.dcbonuses.com] Here. Learn Real Estate Short Selling Get over $450 of short sale training for free at: [http://www.dcbonuses.com]
- 2. Article Source: http://EzineArticles.com/?expert=Alex_Nghiem ==== ==== To learn how to guarantee a "Short Sale", check this out! http://adf.ly/4bZmD ==== ====