Upset that the bpo was too high? Think the bank or MI is asking for too much? No idea how to price your short sale? Find out here.
Latest Activity: Oct 5, 2016
BPO forms (you do submit a bpo with your shorts sale packet, don't you)
BPO Standards (I know you're laughing when you hear BPO and Standards next to each other, trust me, I don't blame you)
Started by Lillie Handy Dominguez. Last reply by Smitty Feb 16, 2013. 2 Replies 1 Like
A little long but worth reading............info about BPO's with a GMAC short sale GMAC had started evaluating the property as soon as we listed.Got an offer 45 days after listed. Upload to…Continue
Started by Eloise P Wexler II. Last reply by joe beauchamp Jun 24, 2012. 1 Reply 0 Likes
I am currently in the middle of 'Round 1' of a BPO Valuation dispute with the negotiators at GMAC, via Equator. The situation is 'dicey & spicey' because the property is tenant occupied and the…Continue
Started by Jim Schneider. Last reply by Larry Davis Mar 10, 2011. 1 Reply 0 Likes
How do you guess what the bpo will say, when you haven't even met the agent? Sometimes the bank might just use a drive-by bpo, and you'll never even hear from the agent, and sometimes the agent may…Continue
Started by Jim Schneider. Last reply by Jim Schneider Feb 26, 2011. 9 Replies 0 Likes
Often when I go on interior bpo's and the listing agent meets me at the house (this happens only about 10% of the time), I ask the agent if they do bpo's. Almost all have said they don't, more than…Continue
Hi Wendy, We do have members in Vero Beach.
I need a BPO in Vero Beach, FL... anyone?
Trying to be nice to the agent performing a BPO on your shortsale listing can work sometimes. I had a situation where I chatted up with the agent and showed comps to reflect the purchase price. Numbers don't lie and so I was able to get the value in. However, on another shortsale case, I did the same thing and BPO value came up 20k higher than purchase price. I called to speak with the BPO agent to determine why the significant price difference and was informed that is the market value of the property. Am now in the process of trying to work with the bank to get the value down. Can't see how the value is there in the declining market where this property is located. Will see what happens.
Blank bpo forms now in the bpo forum, thanks Jeff Payne, I didn't think about the need to upload these until I saw your comments.
Send in my last short sale packet with filled in bpo, copy of the mls and assessor's records for the subject and all comps. The bank ate it up!
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