Lately, I've been receiving a lot of interior orders, with most being for a loan mod or short sale. Here's the issue...

Gaining entry is like pulling teeth.....no call back from agents, no call back from owners.......about 90% of my BB orders go down the drain and cancel.........

Yesterday, I received two orders from two different companies. One agent did return my call........she states, "we don't know if this property is vacant and secure... email me tomorrow for status"......hello?.... I was on the road (kind of hard to write down email address). agent is located 70 miles from subject (my favorite agent). You can guess who's going to get a phone call (not an email), this afternoon.....lol

Second order, no call back from agent......contact company and update status.....was told, "call POC every couple of hours until you get through for first 48 hours".........I can do that, WHEN COWS FLY.........

I had another one, a few days ago........call agent....agent says, "will call you back"......a few minutes later...agent states, "owner is waiting for your call"......I make call to the owner...get voice mail.....tried 3 times...."waiting for my call?".....The next day, I call the agent and ask, "did you talk directly with the owner?"......agent says "no, I left a voice mail".....

I happen to enjoy interior orders....time consuming, they are.
.......But, as we all know, establishing a realistic value is more accurate.....oh, well........had to rant.......

Interiors on short sales are a pain. I love it when I call the agent to get access and they say, just call the owner/tenant. I reply, No, you do your job and call and explain why I am coming to take photos inside their house. People are very sensitive these days about people taking photos.

I don't like doing interior's when the property is vacant, vandalized and located in a really bad neighborhood, with boarded windows pryed open. I've encountered squaters and sleeping vagrants. Sometimes I feel like I should be "armed".

I seldom take them and only if vacant. Even then too much hassle unless with a showing service to gain access. I probably turned down 6-8 this week; to me it's not worth the extra $30 or whatever.

you should be.

I only take them if the contact is an agent or has a lockbox.

Luckily, most agent round here are pretty good about returning calls and setting up interiors.

I guess they realize No Sale No Pay

I know it's difficult sometimes to do the research before accepting, but I like it when I can pull up the listing and see an agent has the listing * even if I've been given another contact number!
Most say call XXXXX company for the code and don't go out until you have confirmed that the property has been secured. Even then you know it may be a 2 day delay getting into the property. One company says, once you have gained entry the order is due within 24 hours. I guess that's not too bad. on the other hand, it really puts a winkle in your life having to call back and leave messages over and over again to gain access when the property is owner occupied. My experience has been that those occupants can be a hassle so nine times out of ten, I'm swearing I won't take those but because those orders usually pay well, I usually still take them.

I'm stalking the broker and the agent, trying to get an appt to get inside today. I've been sweet, understanding and patient for 2 days and now I'm not anymore.

Ive gotten two interiors on houses with tenants that are being evicted. One tenant hung up on me and the other didnt answer. One tenant was in there because the listing agent let the buyer move in before the property closed on a short sale. The bank didnt get approval for 4 months, but by that time the values dropped another $25,000 and the buyer wouldnt close. I really hate interiors unless its on an reo and I can get access easily.

I normally tell the short sell agent, that the value of his listing is greatly affected by the difficulty of me gaining access. LMAO

That's a good one! hahahahahahaha

I wish agents would stop tellling me what comps to use before I go out! Maybe I should start saying that the number of comps they give me adversly affects my final evaluation!

Remember the agent request that I email her to see if the proprty is vacant?......I called instead....got the ok and LB code......I had a bad feeling on this one......I drive 27 miles, arrive at the subject, unit is condo and GATED.....I walk up to the gate, approximately 20 lock box's...none marked for any of the units.....I call the agent.....no call back...I take each combo box, one at a time, try the combination..... none worked....just gota love this type of agent.....I call again, and no answer......I patiently wait for somebody to exit the property, with hopes lock box would be on the unit...I wait and I wait......finally, I make entry into the complex...After a 15 minute search, I find the subject and lock box is in place.....and, given combo was bogus....really starting to love this agent.......Through trial and error, I finally get the box to open and make enty.....spent a total of 90 minutes at the unit from arrival at the front gate to departure......am in a great mood by then.....This is Friday and in the afternoon.....bad day to be in Dodge.....commuters and grid lock going back.....25 minute trip out was 95 minutes going back........agent has still not called me back........
SO, HOW WAS YOUR DAY?.........lol

I've posted this before, but thought I post it again for fun, I also added #5.

If the listing agent has taken any type of "Short Sale" class, then they have been told to meet the BPO agent at the house (in one local "short sale" classes, they are told to remove the key from the lockbox as soon as they know the BPO is going to be done to force the BPO agent to call them, even on vacant houses and therefore make it more challenging to get the BPO done), bring the lowest comps (usually the lowest priced homes in the area, but not necessarily comparable), plead the seller's sob story and basically do everything they can to influence the value.

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.

Just let me do what I am being paid to do and get on with it. Remember I represent the seller's lender, not the seller/owner, not the investor and not the buyer or either agent. Chances are I have 10+ more BPO's I have to get done too. If you have done your job at all and checked the real comps in the MLS then you will have a pretty good idea of where I will come in at and whether your offer will work or not.

...I want them to know See's candy is my favorite chocolate. No, it won't effect the price but I'm shameless and I'll eat it anyway.

I had a FNMA interior this week. Called the contact and the secretary says it is occupied and that she will need to make an appointment. I let her know I only have a limited amount of time and she says she understands.

After several hours, and me getting nervous, I get a call and she wants to know why I need in, who am I working for - I tell her at this point - 'My Client' - she puts me on hold and gives me a number for the owner. If course I say - this number is my contact number and she repeats the number. grrr
So I call the number and get a machine, name on machine doesn't match owner, but I leave a message. I call the broker again and let them know. This time I just say - hey, I don't have anymore time I will just call my client and let them know the listing office would not cooperate and make the necessary appointment. All of a sudden I get, let me call you right back, and they did with an appointment for an hour later.

Funny - this guy is the biggest FNMA REO broker in the area - I almost wished the appoitment wasn't made. Still the subject was listed way, way overpriced - now the client wants me to justify my higher price then they think the comps indicate, which is 40%+- less then current list price and about 50%+- less the original list price starting 300+ days ago.

Pretty funny - especially for what I am getting paid - or sad - depending on your outlook

I had an interior last week and ended up sitting out front calling bpo co and listing agent because the tenant wouldn't come to the door for the confirmed appointment. I was literally driving away when they called me back and said it's ok now..oh whoopy! I'm not sure the grief is worth the little money difference between an interior and an exterior for most of the bpo's I'm doing. Then again, I guess an interior with a tenant might be better than worrying about running into the boogie man in a vacant house..I'd bring my whimpy dog for protection but she's too heavy to pick up and throw at them

I just put out one fire, and now, I have another one.

I got an interior order, Friday afternoon......I recognize the name of POC......one of our "short sale queens"....I make my call within the hour of receiving the order......get her voice mail......message says, "I don't return phone calls or answer emails on Mondays.......I called Friday, Saturday, and today, and still no call back.......Help me out here, gang......have they added more Mondays to the week?.......lol

I think this is the hardest part ( although I'm usually grateful to have a realtor who will arrange or confirm my entry to the property) is trying to be SILENT.......rather than say, "who do you think I'm working for???" is it ok if I tell my client that you have provided me with this information??? or tried to effect my evaluation......or as a last resort ask, how did you get this listing anyway? I know you think I'm just the stupid bpo agent who doesn't know anything about real estate but how did you get this listing?? I'm supposed to be delivering an objective opinion, so how objective was your opinion that you got the listing?
Everyone wants to give their opinion, why do listing agents think that my opinion is worth less than theirs. ( obviously no one would be asking me for a bpo if their opinion was the best out there!)

I always take the comps that an agent gives me. Just about all of the time I do not use them but I take them. I had a deal fall apart because the Appraiser had inadequate research skills. He only used the MLS and not Realist or the appraisers office. He said there had not been any closings in this newer community of large townhouses. I had 7 in my hand that were all closed in the past 3 months. He used highly inferior comps from a different neighborhood and brought the price down $70k. :o I did not know he already did the appraisal (the buyers agent just gave him the code to get in the house without my knowledge even though I asked her, emailed her and wrote it on the contract fax to let me know the appt time so I or the Seller could be present) until the buyers agent called me to say it didn't appraise. Appraising was the last thing I thought I had to worry about. The appraiser and agent acknowledged their mistake but it spooked the buyer so bad in this market that she jumped out of the deal. The unit is still listed and it's been 4 months and our market has depreciated again. UGH! That is why I feel that maybe I could also not be as smart as I think I am. I take the comps.

This is why I don't understand why builders don't put all of their sales in the MLS. Every neighborhood I have ever seen do that has experienced much better appreciation than ones that do not.

As for using Realist, they just pull the information from the MLS so that would not be an advantage here. They also will report what the liens are, but that doesn't tell you the sales price. And the information in an appraiser's office will depend on which office the appraiser is in. That's why there's really no excuse for a builder to not record their sales information in the MLS.

NTB - maybe 'The Appraiser's Office' means what I refer to as 'County Tax Records'.

NTB, I've seen Realist reports showing recorded transactions not just MLS transactions.

Yes, Realist will show recorded transactions, but they don't reveal the price (at least here due to privacy). All that gets recorded is what the lien is. The county tax records wouldn't have that information here, either.

I have a feeling your tax department records show this - maybe not online though. I can get; sales amount - sometimes, sales date, sometimes - but no conditions of sale or anything else - for me it is a scary thought to have to rely on the TR for sales info.

When appraising - I was camped in the county courthouse - digging for the info .

The BPO god's were smiling on me today........remember that interior I got that started this thread?........Well, I get another order today, except it's an exterior,different client....complex is gated, so I have access issues again......and I have no orders going in that direction.....27 miles each way.....gots to get creative......I call my client and explain the gate issue...they said to take a picture of the gate, street, and front of complex......you want to guess what pictures I still have in my computer?.......lol....this was too easy........this kinda makes up a bit for the last one.

I have a nightmare one right now with CW, it has been a week and I am still not able to get access. Last week, the owner was out of town, he comes back monday, CW gives me until Tuesday, so Monday comes around, spoke to the Agent, he says, uh, I haven't heard from the guy. So I ask for another extension, they give me another one until today. So Tuesday,and yesterday i spoke to agent, he keeps telling me that an interior BPO has already been done and that they don't need me to go out there. I said, sorry sometimes they have two interiors for comparison, he says, well someone came out there on Tuesday and did one, wasn't that you? I said, no, it was not me, he then says, well I will try to get a hold of the owner again, I then asked for the owners number myself to see if I could get a hold of them. The listing agent says to me, i will call you back with it, that was 11AM yesterday morning. CW has been super and has given me every extension, but today, I am just going to ask them to cancel it.

^^I would not cancel it. Just keep telling CW that you are being refused access.

I am having a hard time getting into one right now also.....the last one was also a pain but I need the money and will keep calling

I had one this week where I was stood up 4 times to get inside. Twice by the owner and twice by a tenant. Got in the fifth and final time. Owner was trying to get a loan mod. They just had a new roof and new windows installed last week. They were in the process of having central air put in when I was there. Go figure can't pay for mortgage but can pay for upgrades (brand new BMW too).

..ArgentininMa- I'm impressed. I was sitting in front of an interior a week ago ( 3o miles away ) at the scheduled time and tenant wouldn't come to the door and let me in- I made last ditch desperate calls and as I was driving away the LA got back to me and got me in. I don't think I would have drove back 4 times, I know I wouldn't have.

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

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!

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

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 :)

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..........

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.

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

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.