Broker Price Opinion and Real Estate Agents Making Money with Them
Broker price opinion and real estate agents is a hot commodity these days. Banks frequently use bpo’s to price the long list of foreclosed homes they have waiting on their books. Many agents complain about the process of formulating a liquidated value to appease the bank because most of these values are automated. Real estate [...]
Questioning The Broker Price Opinion for Reo’s
Many people question broker price opinions when purchasing reo’s and foreclosures. These opinions are just what the term infers, “opinions”. Bank policies will differ on the matter and some banks purposely under value to sell quickly while other banks want their bpo’s to conform to a price that will get them as much money back [...]
Accepting Broker Price Opinions for Short Sales
Getting a lender to accept a broker price opinion for short sales will not be difficult but you may not get a fair market value for the home. First of all, the bank really doesn’t want to enter into a new agreement that decreases the mortgage amount. They will fight you on the process unless they are getting close to what they already receive for the home. A broker price opinion will much likely favor the lender than the new buyer.
Price Your Foreclosure with an Interior Broker Price Opinion
Why choose an interior broker price opinion over a certified appraisal if you’re purchasing a foreclosure? Well, it all depends on the condition of the home that you want to buy. Many foreclosures are not well kept and if you’re looking at a dilapidated home why spend more money than you have to when an [...]
Using an Exterior Broker Price Opinion to Purchase REO’s
Many homebuyers and sellers look to save money but never think of using an exterior broker price opinion to reach a fair market deal for the home. But recently, exterior broker price opinions have been used extensively, especially for REO properties that are abundant and not moving as quickly.
The list has overwhelmingly grown for bank owned properties, more commonly known as real estate owned, or REO properties. These foreclosures have multiplied way beyond what the banks were prepared for and now banks are looking to off load the homes while keeping expenses down. So they’ve turned to using an exterior broker price opinion to develop a fair market value to price these homes.
Recently Written
- Broker Price Opinion and Real Estate Agents Making Money with Them
- Questioning The Broker Price Opinion for Reo’s
- Accepting Broker Price Opinions for Short Sales
- Price Your Foreclosure with an Interior Broker Price Opinion
- Using an Exterior Broker Price Opinion to Purchase REO’s
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