Real Estate Forums
| REO/BPO and Foreclosures Real Estate Owned and Broker Priced Opinion topics, as well as discussions on foreclosures and how to make the most of this aspect of the real esate market. |
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If I come across a BPO, and when I check the records for it, if it says multiple acres I won't do it.
The reasons are that it is out in the middle of nowhere, it is very hard to determine the value, and I typically cannot find any comparbles less than a year or within 20 miles back. These orders take too long, and they don't pay more for them either. I just tell them to cancel the order because I only do Urban or Suburban Residential orders. Most of them haven't said anything about it so far, but I hope that they are not noting in my profile that I am inexperienced because I refuse to do BPO's of such type. |
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Good idea. There is plenty of work near your home. I dont take anymore work over 5 miles from home or office.
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Alex G. Portland Real Estate and Vancouver Washington Real Estate. FREE LIST OF BPO COMPANIES |
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If I didn't go more than 5 miles I wouldn't get any orders.
However, I'm just saying if an order comes up in my territory, I search the records of the property and it says like 8 acres, and I cannot find any comps in that area, then I won't do it. One time I called FAS and left a message saying before I go out to do the BPO, I wanted to make sure I would be able to use comps 15-20 miles away because that was all I was able to find and it is in a rural area. I got an e-mail the next day that the order was reassigned. |
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If there is no comps, I go out of the area for comps. Just make a note of it on the bpo form. I usually get them excepted that way.
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Alex G. Portland Real Estate and Vancouver Washington Real Estate. FREE LIST OF BPO COMPANIES |
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