http://shortsalepowerhour.com
Fred discusses a growing trend used to dispute BPO's. There are other ways to dispute a BPO.
http://shortsalepowerhour.com
Fred discusses a growing trend used to dispute BPO's. There are other ways to dispute a BPO.
I can’t wait to see some of the comments to this one!
First you have to understand that it is normally a near miracle that the BPO AGENT EVEN FOUND THE SUBJECT PROPERTY. Just be prepared to go to bat for your customer. Common sense does prevail most of the time if you present in a way they can understand but it does take time to work thru the layers red tape{MI, INVESTOR, JOE SMOO, ETC]
I HATE BPO’s. Agents are no longer performing BPO’s instead of relying on unlicensed people to go out and scout the property for them. Also, at least with an appraisal, the appraiser sees what the property is selling for.
I’ve tried the appraisal method – No dice! Providing 3 most recent sales and actives seem to work as good as any.
I would NEVER spend money on an appraisal on to dispute a BPO. Completely unnecesseary. Comps from the MLS work just fine, and many times a fairly quick and easy way to get your value where it needs to be. The challenge comes when trying to get the lazy short sale rep to confirm the new value because it requires more work on their part.