What are some reasons a Short Sale may not be approved?

1. Too close to the Trustee’s Sale. (Foreclosure sale) Some banks say 30 days before, some may consider an offer within 10 days before the sale. It’s always worth asking, but that has been the cause of declining some offers.
2. The BPO may come in too high. The BPO (Broker’s Price Opinion) is when the bank sends either another Realtor® or an appraiser to give an opinion on the value of the house. We have already listed the price at what we believe the value should be, but unfortunately real estate prices are a little subjective. If the person submitting the BPO decides that the home should sell for more, there isn’t much we can do and the home will usually be foreclosed.
3. No one makes an offer. In order for a Short Sale we need a buyer to come make an offer for us to present to the bank. If for whatever reason no one makes an offer on the property, there is no way for the Short Sale to be considered.