How to Influence a BPO

[877YouKeep]

What Exactly Is a BPO?
Broker's Price Opinion (BPO). A BPO is the opinion of property value given by real estate agent or broker. The BPO is an estimate of the selling price of property based on condition of the subject house, selling prices of comparable homes in the area and other conditions. This process is often used in the place of a full appraisal when a property goes into default and considered for loss mitigation. You must understand the BPO is an art and not a science so values can vary hence the reason for influencing a BPO. s an investor you want the BPO to be reported to the servicer as low as possible.

More information available at:
To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.

[Gaby]

I've downloaded and printed the Ferdie Mac form but I also print out the MLS archive record of the property to show the price reductions and where the original price was. Pictures of anything negative (power lines) any narrative to give a better picture. If your BPO is more convincing than their internal BPO you've done good work.

[877YouKeep]

Many times it does not matter what an investor says they continue with their BPO and you must request a BPO review and sometimes escalate to a manager

[jwhite17]

Hey 877,

Can a BPO every be too low and the loss mitigator orders another BPO???

If so, how low is too low?

[877YouKeep]

BPO coming in too low, I would not challenge the BPO although if it is obvious there is a possibility. You have to remember that the negotiators in man instances are sitting half the country away and they rely on the BPO agents for the comps.

[bettyhoti]

hi every on i am happy to have forund this forum , for few minutes i have been here have learned alot , men am anew realtor who has been trying to wet his feet on reo listing , for experience gururs could tell me how to go about it and some numbers that i can call to get these properties
thank you guys