http://www.mackperryhomes.com/atlanta-short-sale-foreclosure-information-part-5/ Atlanta Real Estate Thu, 29 Jul 2010 16:09:17 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.mackperryhomes.com/atlanta-short-sale-foreclosure-information-part-5/comment-page-1/#comment-23705 mackperryhomes Thu, 31 Dec 2009 13:23:33 +0000 http://www.mackperryhomes.com/atlanta-short-sale-foreclosure-information-part-5/#comment-23705 Thanks for stopping by Aneetra. I totally agree, inexperienced agents either preparing BPO's or those who have little or no knowledge of the short sale process representing seller or buyers have done a lot to extend the time frames. Thanks for stopping by Aneetra. I totally agree, inexperienced agents either preparing BPO’s or those who have little or no knowledge of the short sale process representing seller or buyers have done a lot to extend the time frames.

]]> http://www.mackperryhomes.com/atlanta-short-sale-foreclosure-information-part-5/comment-page-1/#comment-23698 aneetra sherrell Thu, 31 Dec 2009 02:25:23 +0000 http://www.mackperryhomes.com/atlanta-short-sale-foreclosure-information-part-5/#comment-23698 Most of the problem comes in with the lenders who are ordering BPO's instead of Appraisals from Brokers who do not know the area. Some Brokers are using this as a way to earn extra money, not really understanding the severity of them potentially making/breaking a deal. It is hard to turn down a BPO request when business is slow even though they may not be that familiar with the area. Therefore, they come back with an overpriced report that has wasted everyone's time. That is the main reason short sales can take so long, because you have to reopen it if you disagree with the value among other things. Most of the problem comes in with the lenders who are ordering BPO’s instead of Appraisals from Brokers who do not know the area. Some Brokers are using this as a way to earn extra money, not really understanding the severity of them potentially making/breaking a deal. It is hard to turn down a BPO request when business is slow even though they may not be that familiar with the area. Therefore, they come back with an overpriced report that has wasted everyone’s time. That is the main reason short sales can take so long, because you have to reopen it if you disagree with the value among other things.

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