Grab BPO orders

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Grab BPO orders
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Broker Price Opinion is the potential selling
price of a property arrived at by the broker.
When mortgage companies or lenders request for
Broker Price Opinion to evaluate the price of the
property for quick appraisal, real estate agents
prepare a report without any formal evaluation
model. They arrive at a price faster and it is
normally less than the price quoted compared with
appraisal process.
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How BPO works?
Real estate brokers conduct BPOs for better
understanding of the listings or foreclosures. It
is the estimation of a property offered by the
broker without adapting automated valuation
model. The lender and the mortgage companies take
the help of broker to arrive at a value of the
property when they do not want to incur
additional expenses or delay in the evaluation
process.
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How much does BPO cost?
Some states do not allow the brokers to charge
for the evaluation. This has brought unrest as
brokers do not want to do work that does not pay.
Though there are some who are happy to do the
work for less. BPO gives the broker an
opportunity to identify properties that are
coming for foreclosure and the condition of the
house giving them a competitive edge.
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Types of BPOs
Broker Price Opinion is commonly used by lenders
to evaluate a property coming up for foreclosure
or refinancing. In the case of vacant property,
the evaluation is done quickly but if it is an
occupied property, the broker takes extra care
not to ruffle the feather of the occupant. They
take a walk in the area, talk to the local to
check if any property of the similar description
has been sold before to define the BPO. This is
called Drive by BPO.
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The second type is the Internal BPO that calls
for more information like photos, videos or
valuation work. A BPO company can grab BPO orders
from lenders to make some quick money. The basic
qualification is a real estate broker license and
EO insurance.
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• CONTACT US
• Orlando, FL
• Cell No 2818990730
• Visit us https//www.offshore-bpo.com/