So, the BPO was done and a negotiator is assigned. What is the role of the negotiator?

Asked by Srobles, 22193 Wed May 6, 2009

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The Twins, Agent, Lorton, VA
Wed May 6, 2009
Hi,

Well first if you have ratified a contract on a short sale home. Congratulations!

If so I would recommend that you ask your Realtor all the questions you have about the short sale process.

However, for the interest of all those who read these posts, it's a great question.

The role of the negotiator ( also known as the Loss Specialist ) is to gather all the paperwork necessary to submit the file to the investors for short sale approval. This means from all parties. The seller,the listing agent, the buyers agent as well as the title company. The title company willl be required to submit a preliminary Hud-1 to show the bank how much your offer will net the bank.

The short sale process is very much like the Buying Process only backwards!
2 votes
Nathan Corye…, Agent, Alexandria, VA
Tue Jul 10, 2012
The Role of the Negotiator is to Accept or Reject the Price and also the TERMS of the current buyer's fully ratified contract! Based upon the BPO agents price point evaluation, or subsequent BPO's performed on the property!
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