Shortsale Pro---Can you help my credibility
Shortsale Pro--
I'm at the end stages of my first short sale. Great experience!!!!! The only real snag I had was the lender and I argued over the condition of the roof and their loss if they held onto the property. The BPO said the roof was in great shape but the owner had a quote 2 yrs ago for $9K to tearoff and replace rotted plywood. I went out and got 2 estimates around $9K and we were able to resolve it.
As I stated in an earlier email, the BPO guy was a realtor who claimed the house was in great shape despite 2 60lbs dogs and 1 cat urinating on the floor for the last 2 yrs. The lender said they weren't interested in "cosmetic" repairs--only sturctural and I needed to strengthen my argument why they should short sale.
Bascially where I'm getting at is that I didn't have a list of ways they "the lender" were going to lose $$$ if they didn't move ahead with our agreement.
Outside of holding costs and legal fees can you help me be more specific on the expenses for the lender holding onto a property going into foreclosure. My credibility/knowledge needs to be strengthened for the next debate.
Thanks for being such an active member on this board. It is obvious a lot of us newer investors have gained a wealth of knowledge from your willingness to share your experience.
Jim 
I recommend using a Cost Benefit Analysis that includes a Time Value of Money Scenario.
You might want to sit for a few hours with an attorney who holds a CPA and is familar with the foreclosure process in your state... or some other professional who is adept at financial forecasting.
Yes, it might cost a few thousands of dollars, but if you are serious about this niche, it will be well worth the investment.
Many will say that it's overkill... but it works for me.
Insofar as the broker who says the house/roof is in great shape, you should know that BPO work is very competitive. The Broker may want the lender to list the property with him as an REO...
Take a look at that broker's record. How long is the average DOM (days on market) and at what percentage is that broker's sales to original listing price?
He might list homes at $X, but they sell at 70% of X or they don't sell at all.
If his listings are all overpriced and languish on the market, bring that to the attention of the foreclosing mortgagee.