Replies to This Discussion

Permalink Reply by joe beauchamp on September 16, 2010 at 8:27am

Best way is with an accredited appraisal. Everything else, they assume you found the worst to show them and it is you against "their employee". Guess who wins.

Actually, the easiest and best is wait until the BPO dies (90 days) and then, for heaven's sake, don't just give the BPO agent the keys and tell him to have a good time. Too many agents do that and you know what the result is. You want to do as much as possible to let him know what you are looking for and all the bad things which he might overlook - including the just released killer who lives next door - or worse, the BofA exec who lives next door. ;-)

It kills me when I have to listen for weeks from an agent that the number is too high and when the next BPO comes around, I hear "I gave her the number to set up an appointment." So, being burnt once wasn't a hint????

Permalink Reply by Joe and Cindy Welu on September 20, 2010 at 4:32am

We are having issues with one right now similiar to where the negotiator is saying we cannot dispute it, we are trying to get to a manager higher up in the "food chain"... The negotiator told us a board reviews the BPO and votes on whether to accept close, higher or lower...we are diligently working on trying to get another BPO completed..if you have success, let us know.
HOWEVER, we have had another one that after initially being kicked out right away because offer was so much lower than what was owed, we re-submitted and put a note in to manually override and attached an appraissal we had done and comps along with description of why value is justified and at market value for current condition and area sales...that worked and is now scheduled to close.

Permalink Reply by Vanessa Calhoun on September 21, 2010 at 4:12am

I'm with Joe! Remove the lockbox and keys and meet the agent at the property.

Permalink Reply by Dave Gubler on September 21, 2010 at 6:25am

Meeting the BPO agent is key. Our short sales almost always work out better when we get out there with comps in hand and describe other adverse conditions to the BPO agent on site. They don't always appreciate it but it will save you a lot of hassle later and save a few deals as well.