Posted on Aug 9, 2012 in Roseville and Sacramento Short Sale FAQs

Hi, this is Mark Peek at Keller Williams Real Estate; I’m your short sale specialist for the Roseville and Sacramento area. If you’re having trouble paying your mortgage or are in the middle of foreclosure, I want to encourage you to reach out to me for help. I can provide you with some information on doing a short sale on your home and help you determine if this is a path that you would like to take to avoid foreclosure.

I wanted to talk to you today about Specialized Loan Servicing (SLS). Do you happen to have a loan with them that you need some help with? Something happened that I found quite interesting when we submitted the file on a short sale. With SLS, you have to know where everything is in the process and keep up on it. In this particular case, SLS gave us a counteroffer before they even knew what the value of the property was. How did they counter us? They essentially used an automated valuation, something similar to www.Zillow.com or other type of online appraisal system. In this case, the value was quite off, by about $30,000. So, we knew better and knew that the broker price opinion hadn’t been uploaded because there was no way they could have come up with the number they offered us. This is where an automated valuation doesn’t always work. You actually need someone out there in the field taking photos and evaluating the property so you can get an accurate value of the property so you can properly negotiate the short sale.

If you have any questions about Specialized Loan Servicing or have had a similar situation happen to you and your short sale was declined because the counteroffer was just too high, please just give me a call because I’d be happy to talk to you about it. Again, my name is Mark Peek with Keller Williams, your short sale specialist for the Roseville and Sacramento area.

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