Has everyone been doing these? I just started getting these in the last couple of days.. the rep said they were new reports & explained what they were, i couldn't help but remark, "oh is this a big reason why the appraisers hate us agents so bad lately?" she laughed and said, "yes, exactly":)
It's a total review of a recent appraisal, specific questions regarding what the appraiser stated and whether i believe it was true or not and why, as well as reviewing the comps they used..
INTERESTING:)
Lor

cant wait

I think I started a thread last Summer on these . . . . probably singular instead of plural. I've done quite a few.

I been getting some retro BPO's lately too. Kinda smells like the same thing.

Sweet!! Ive been waiting for something like this to come along. Some of the appraisal values on my REO properties make absolutely no sense. Then it is a constant battle for 4-6 months explaining why the property is not selling.

Yes, I've been doing a few of these for one company. They are kind of a pain, maybe I'm not used to them yet. I guess saving a drive to the property makes up for it.

Here's the link to that prior discussion:

http://www.agentsonline.net/forums/ubbthreads.php/ubb/showflat/Number/236223

I did a search before i posted and no previous posts came up for me Vermont:(
I like how the appraiser/realtor guy in your thread didn't like the idea of having their work reviewed, but us as realtors always get appraisals thrown in our faces when our bpo(general and our own listing bpos)values get questioned due to an appraisal..
all is fair in BPO's and REO's.....

I think you missed it because it wasn't in the BPO/REO forum but in Agents and Brokers.

Perhaps these two threads could be merged and rehomed into the BPO/REO forum?

I did a couple a few weeks ago. They asked to verify the comp information provided on the appraisal, as well as the sold dates and prices. They also provided a few possible additional comps found via a tax record search.

The first one was like swiss cheese. Distances were short of actual (one was 5 miles away, on appraisal as 1.1 miles). Sold dates and prices had been altered. All to support what appeared to be a refi with $30K cash out. In a market that has been flat or down the past 3 years.

The second one was right on. Good comps, factual information and reasonable adjustments