Short Sale Revisited

As I was looking for some comparable sales for a property that my client wants to purchase, I found one short sale was listed in Grover Beach for $460,000 and sold for $360,000, and closed escrow within 60 days.

I know that the listing price was correct, because i did the BPO (Broker's Price Opinion) for the bank.

A Broker's Price Opinion is when a homeowner is late on their paymants, the bank hires a Realtor to give them an estimate of value, so that they know how screwed they will be when they foreclose.

I'm going to go out on a limb and say that the success of your short sale, depends on the quality and knowledgeability of the listing agent who is selling the home and negotiating with the bank.

But you still need thick skin, patience and the knowledge that after two months of negotiating or being in escrow, that the home will never close.