Hi All
Feel free to add some horror stories to this, I haven't seen a good horror thread for a while and I know there are some stories that will dwarf this one!
I have been assigned an reo that took a little extra time to do the interior bpo on. I hope a few of those that want to get in to this end with out experience read this and understand that every repair has to be itemized, adjusted and the BPO needs to be there yesturday if you got the request today! This is for a 1 and 1/2 story home with a full basement and only the main floor is sort of finished. Here is part of an email I sent to an investor that maybe interested (or maybe not once he reads it)

"The previous owner had planned to do a
complete remodel and ran out of money. He stripped the bathroom,including walls and ceiling, most of the kitchen and one of the bedroom closets are gone, the roof is in very bad shape from age and moss and has two patches. He had done a lot of rewiring and added some wires as well, but there is not a main panel, any receptacles or switches. It has an oil furnace that is in a couple peices, it is clean and looks good, was last serviced in 2002 and may work. There is also a lot of new plumbing lines installed. I can't guarantee that the electrical or plumbing will meet code, although they look good they can not be tested. There is a full basement with a fairly high ceiling and used to be finished, but now it will need some work as it has been stripped. There is framing for a large room upstairs, but no walls ceiling or floors (except rough to walk on)and the insulation in the rafters is below code. He had replaced one of the large windows upstairs and decided to remove it and take it with him. A couple other windows will need help. On the good side the walls that have not been removed look good and the hardwood floors have been refinished and look good. The lot is about a 1/4 acre and will need to be resodded. It will take about $40k to rehab the main floor and exterior. With just the main finished it should sell for about $170K with all floors finished it should sell for about $200k"

There is more but it could scare him away and I do want him to take a look first, otherwise I will have to list as a nice home in need of some minor tlc. LOL
Have a good day all!