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#247894 - 09/04/08 11:44 AM BPO after escrow
RealEstateGuy Offline
Member

Registered: 02/06/06
Posts: 93
Loc: Oklahoma
Does anyone have any thought on why a finder would ask for a bpo after the property goes into escrow? I told the finder this and his simple reply was, "we still need it." I am making VERY little on this property and hate to spend any additional time on this. Any input??

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#247904 - 09/04/08 12:36 PM Re: BPO after escrow [Re: RealEstateGuy]
OHAgent Offline
Major Contributor

Registered: 02/08/05
Posts: 2772
Loc: Ohio
Is it an REO? If it's your listing, I assume you've already done a prior BPO on it, so it shouldn't take too much time to do an updated one. I've done a couple for REO properties that were in contract. Both times they were for the PMI companies (I assume to validate the amount of the claim they were getting ready to pay).

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#247990 - 09/04/08 10:24 PM Re: BPO after escrow [Re: OHAgent]
Concepts05 Offline
Veteran Member

Registered: 12/21/05
Posts: 1140
Loc: MA
Might be the same finder I have... they say the seller still needs it but I'm not sure about that as it's only the one finder that makes me still do the (long) BPO even when it's under agreement.

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#248025 - 09/05/08 07:42 AM Re: BPO after escrow [Re: Concepts05]
RealEstateGuy Offline
Member

Registered: 02/06/06
Posts: 93
Loc: Oklahoma
This is my REO. The finder asked twice but after my last response he then said he will only need it if the sale busts. (battle of the wills) I think it is easier for them just to request it but they have to realize we are busy too. Plus I think they just don't want you to think they don't know what they are doing. I get real tired of AM wanting something within 24 hrs but it takes them 30 days to reimburse or 7 days to respond to an offer.

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