Property Bpo Example The Importance of Being Accurate and Complete If you’re already an REO agent or want to become one, there’s entire thing you have to try to receive a continuous stream of REO listing assignments and BPO requests.
And that’s to strive to submit on time, every time, an accurate and complete BPO Broker Price Ideas and opinions. Real Estate Bpo Example www.mcallenrealestate.com For people you unaware of what a BPO is, it’s an instrument used by lenders and mortgage companies to value properties in situations where they believe the expense and delay of an appraisal is not necessary BPO’s are used extensively on foreclosures.
REO agents and brokers are assigned to do them by the lender or asset management company, and it’s also their most favorite entryway to actually being awarded REO properties to offer. Doing an accurate BPO could be tricky and difficult, however, when you adjust the cost of the foreclosed property against active and sold comparable properties in the gross living area. This really is one of the first things the asset manager or the quality control manager is going to review when they’re auditing your BPO.
If your adjustments aren’t consistent and also to the money, then you’ll definitely be asked to conduct it all once again and your quality control score will suffer. There’s a way to avoid that unfortunate situation by using the formula below to accurately calculate the adjustment. Step # : Add product sales price of three of your sold comparables: For example, $ , $ , $ , = $ , , Step # : Add over the square feet above ground do not include the basement, if there just one of the of all three sold comps.