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#294579 - 06/12/09 12:13 AM Re: Interior BPO's........rant [Re: jbt4re]
PacificBreeze Offline
Member

Registered: 07/22/07
Posts: 482
Loc: CA
Originally Posted By: jbt4re
I've posted this before, but thought I post it again for fun, I also added #5.

Here what I would really like to fax over to these investors and/or short sale agents (this of course is in jest):

1. Every time you mention the offer price on the house, I will up my value by $5000.
2. Every time you bring me comps or send me the appraisal, I will up the value by $10,000 (I belong to the MLS and know how to pull comps and the appraisal means nothing to me).
3. Every time you start telling me the seller's sad story, I will up my value by $5000, if the story goes beyond 1 minute, I will add $1000 per minute.
4. If you follow up with me in a week to find out the value, the next BPO I do for you will automatically have a value increase of $10,000.
5. If you bring a list of bogus, inflated repair costs, I will double it and add it my final value.


I LUV IT!!! Didn't see it on your previous post, but geez, I'm tempted to use it! laugh

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#294580 - 06/12/09 12:18 AM Re: Interior BPO's........rant [Re: PacificBreeze]
PacificBreeze Offline
Member

Registered: 07/22/07
Posts: 482
Loc: CA
Let's add to your list . . .
#6. My value increases by $1000 per hr, for every hr I have to wait for you to call me back regarding access info! After 24 hrs, if no response, my value increases by $2000 per hour! upset

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#294589 - 06/12/09 01:49 AM Re: Interior BPO's........rant [Re: PacificBreeze]
CandyMan Online   content
Major Contributor

Registered: 07/12/08
Posts: 2480
Loc: California
I sure wish it worked this way when the market was good....need an extra $20k bump in value, just sit there 20 hours........lol
_________________________
PONDERISM:

"Life isn't about waiting for the storm to pass........It's learning how to dance in the rain".

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#294590 - 06/12/09 02:15 AM Re: Interior BPO's........rant [Re: CandyMan]
KoolAgent Offline
Member

Registered: 02/23/09
Posts: 14
Loc: East Coast
So, today I did an interior bpo. The POC was this "short sale guy" that made me put the order on hold two times: once because it was his b-day and the other because he was on vacation supposedly for 2 weeks. When I finally got there, he was telling the curious neighbors that he was the owner (oh my!) We get to the door and, oops, he didn't have a key. So he went ahead and opened an unlocked window and held it for me. Now, I drove 30 minutes to get there and I was determined to get this done, so I jumped in but he stayed outside... it figures. Since the Subject is located in the heart of one of the best neighborhoods, I went in sandals. I got in there and it was the nastiest property I've ever seen (and I've seen some crazy homes.) I know, i'm so dumb! but that would teach me a lesson... Mold everywhere, damp carpets, etc etc... By the time I was done, he said to me what every "short sale-I'll buy your home for cash" guy says: "Would you mind calling me and letting me know what the value is?" I was psycologically itching everywhere, upset at the whole thing and said: "too much, good bye" with a big smile on my face :)

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#343246 - 07/07/10 05:01 PM Re: Interior BPO's........rant [Re: KoolAgent]
Brad - W4BJM Offline
Major Contributor

Registered: 07/22/07
Posts: 1574
Loc: PIE/SRQ corridor
Just need to vent.....

I was assigned a CC interior yesterday. The instructions do not give any type of POC. There is supposed to be a lockbox on the door with several different possible combinations. Guess what? I go out there this morning and there is no lockbox. Figures....

CC puts the order on hold. They call me back and assure me the lockbox is now on the door. BTW, they still want the report done by the original due time. That now makes it a 24 hour rush.

I call them and very politely tell them "No way Jose." I explain to them that I was already out there today and I have other reports due. I can't get out there for two days. They him and haw (is that how you spell that phrase?) and we agree to a time early on Friday.

Is it my fault that the lockbox was not there at the time I was given the assignment? The way I see it I should have 48 hours from the time of reassurance the lockbox is now there, not from original assignment. That really is a pet peeve of mine when it comes to interiors on hold. When access is finally determined, mills seem to want us to drop eveything and turn them into rushes. I hate that!

Ok, venting done..........
_________________________
QC is evil

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#343249 - 07/07/10 05:29 PM Re: Interior BPO's........rant [Re: Brad - W4BJM]
PalmBeach BPO Offline
Veteran Member

Registered: 07/15/09
Posts: 752
Loc: usa
yes that stinks. I've had that happen several times. You get the LBX code and the locks have been changed by the preservation company, or the key is missing. . Call to the agent is useless. I say, when have you last been to the property? Oh, maybe 3 or 4 weeks ago... Thanks. order on hold.

I have now seen on orders that if the LBX or key is missing to take a pic and submit for proof and a extension.

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#343252 - 07/07/10 05:59 PM Re: Interior BPO's........rant [Re: PalmBeach BPO]
REO driven Offline
Veteran Member

Registered: 06/20/07
Posts: 696
Loc: In the cornfield
I keep having POC, 3rd party negotiators as my contacts and in many cases it the same person over and over.

My additional suggested values rise if:

If the call me by my first name...........$1000

Shake my hand..............................$2000 to $3000

Small talk...........................$1500

Try to hand me paperwork, contracts, comps...........$5000

Bring up prior properties for any reason............$10000

Show up late.......$1000 per minute

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#343446 - 07/09/10 05:03 AM Re: Interior BPO's........rant [Re: Don Price (Pine)]
OverTheEdge Offline
Veteran Member

Registered: 08/24/08
Posts: 1008
Loc: Middle of Ohio
I have a rule on my listings - if the asset manager asks me to do a BPO every week - yes - just had one do it - the value of the property drops $5000. Pretty tricky to do - kinda hard to find the comps sometimes - hee hee - It just ticks me off - they list it over my price - tell me to keep doing BPOs - hey I have an idea - since you listed it according to the frickin' price the appraiser gave you - let that idiot do appraisals every week. I have all day to do BPOs on overpriced assets - duh duh duh.
I also had a short sale interior BPO for one of the big teams here - swear - it was underpriced according to my comps - BPO company sent me comps - and the agent sent me comps to show me how off I was. Really??? I can't find a comp within 2 miles of the listing that have sold for the same price - or even close - the best comps I can find are $20,000 over what the list price is - so let me tell you I was ever sooooo grateful when they sent me comps outside the accepted distance - even though there were sales in the same subdivision - same condition - but use these cuz they fit what we have it in contract for. I hate - hate - short sale interior BPOs - can't they just sell the stupid thing and by pass pushing us around? I have decided that BPO stands for Best Price Offered - no one really cares about the value - just the offer they have on the table.
_________________________
"No cause is lost as long as there is one fool left to pursue it". Wil Turner

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