I am thankful for all the advice in this site.

I wanted to give this tip out to others that have had issues getting a bad BPO disputed. I am the listing agent on a short sale and presented an offer to Wells Fargo that was countered at a price that was not reasonable for the condition of the property. We would have to wait till the end of March for a new BPO.

After doing a value dispute showing comps and inspections reports to the asset manager he said that the BPO value sits where it is and the house is sold as is. No more value disputes can be done.  I asked the negotiator how many bedrooms the BPO have for the property. The property has a nonpermitted 4 bedroom and only shows 3 on the MLS and property tax records, The square footage not included in the MLS. ( I met the orignal agent and gave him all the comps I had and knowledge of the conditions that were known to that point. No inspections were done yet. Obviouly he forgot about the 4th bedroom)

The negotiator said that the home showed 4 bedrooms on the BPO. She said a new BPO will be ordered. Now I have more evidence to show the BPO agent once he shows up to the home.

I am equipped with reports for repairs and pest section1 showing 7K in repairs and other 10K in repairs. I  will remind him of the non permitted 4th bedroom and leave him with a packet with all my comps etc.

Hopefully I will get a better BPO value so this offer will get accepted.

Hope this helps others to ask questions, ask what square footage was used, how many bedrooms, what comps were used. Anything to get traction and don’t give up anytime, even when it looks bleak.

 

 

 

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