What is a BPO & Why Should You Care?
561-352-3056 www.treugroup.com The Treu Group, Palm Beach County and Martin County short sale real estate agents share how the BPO impacts your short sale.
What in the world is a BPO? Or should you even care? Have you heard the term BPO and are wondering what it is? A BPO is just a Broker’s Price Opinion. The BPO looks very similar to an appraisal. It is interesting how something so simple could cause such issues if it isn't handled properly. That is why your short sale team has a BPO process. When we submit a short sale offer, your lender will request a BPO or an appraisal to determine the value of your home. A BPO is critical as this is the lender’s opportunity to know if we have an offer that is fair market value. Many of the short sale deals that fall apart do so because they of the BPO process not being handled correctly. It is critical that the BPO agent has all of the information needed. As your Short Sale agent, we make sure that you are represented properly during this important phase. We provide the BPO agent with the number of showings that we have had, the solds as well as any condition information that might have affected the value. Some lenders actually do an appraisal which is the preferred method as it is a more accurate determination of value.
Why The Treu Group? As your short sale real estate agents, we know how to guide you through the process of avoiding foreclosure on your Palm Beach County home. Take a look at what others say about The Treu Group, your Palm Beach County or Martin County real estate agent.
Are you wondering how long before you are in an equity position on your Palm Beach County home? You need good information to make the best decisions so call your short sale team at 561-352-3056.
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Listing information last updated on September 25th, 2017 at 2:52pm EDT.