BPO

Is it just me or are the BPO companies requiring more and more information. It seems to me that the BPO companies or the lenders are wanting a full blow appraisal for the price of a BPO. I am spending more and more time filling out the longer forms and just about every one requires a revision. I don't think it's worth it anymore.

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Replies

  • Appraisals don't even provide this much information. Some of the BPO companies now have us giving a listing and sales history for each comp. Appraisers don't do that. They keep trying to outdo each other asking for more and more and more.  And then they are paying less and less and less.

  • I've noticed over the last few months that the bpo forms are becoming more and more like appraisals. Or at least requesting more information than before. At the same time these bpo companies are paying less and less and taking longer to pay.

    I spend more time working on getting listings. If I do any bpos it's just for fill between closings.

  • not just you.........LANDSAFE uses bpo forms but are reviewed by there own appraisers.....there suggestions for corrections are not suggestions. HOW do appraisers in TEXAS have more knowledge about local community  than the local  licensed real estate agent. YOU DO NOT MAKE THE CHANGES THEY FAIL YOU AND THE REPORT. NAPLES FLORIDA

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