Hello everyone I am Matt Fetick with Sold By Short Sale, Philadelphia’s leading short sale specialist, thank you for joining me today. I try and blog everyday to provide all the facts for homeowners in the Philadelphia area. Today I wanted to talk about what to expect while working with your bank on a short sale. The question I get asked the most in speaking with prospective clients always pertains to how much money the bank will want. If a homeowner is contacting me more times than not their property is worth less than what they currently owe on their mortgage so the selling price is a large concern. We don’t look at what is owed to the bank for your property we find a fair market value for your home. A fair market value for your property can be found by seeking out similar homes in your part of town and comparing their selling price to what your home is currently worth. Regardless of what price we come up with when we submit your short sale file to the bank they will always have an appraisal or BPO done to determine what they think is a fair price. What matters most to the bank is getting the best possible price in this market for your home. If you have any questions on your distressed property and think a short sale is an option for you please visit my website or contact me today. Thank you for joining Philadelphia’s leading short sale specialist and have a good day.