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The BPO agent or appraiser has showed up and you were there to greet him. If the owner is going to be present during the BPO make sure that they keep a low profile and stay inconspicuous. You also need to coach your Seller that if the BPO agent contacts them directly to get access, the Seller should refer them to you and your office only will schedule the appointment.

You need to impress your seller about the importance of this appointment and its purpose. It is also imperative that you set the Sellers expectations with regard to the BPO. Be certain that you explain to the Seller that they should not clean the house or make any repairs prior to the BPO. Many Sellers want the property to look nice for the inspection.

Remind the Seller that the lower the BPO the better chance you have of getting the short sale approved.

When you meet the BPO be sure that you have a BPO package to give them. It should contain the purchase agreement, some valid comparables, an estimate of repairs done by a contractor and the hardship letter. You can also include items like a crime report for the neighborhood, days on the market report, pictures of any damage and a sexual predator report. Your job here is to make the BPO agent’s job easier.

Don't be pushy. There is no guarantee that this information will influence your BPO but the chances are improved if you give the agent information that they can take into consideration when evaluating the property. A professional agent will come to his or her own conclusions. All you can hope to do is provide real and truthful information that will support your offer.

Be polite and helpful but don't be a pain in the neck. Remember the BPO agent is just doing his job.

Yours in Success,

Dick Weiss

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Renée Donohue
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate - Las Vegas, NV
Las Vegas Real Estate Broker - www.urLVhome.com

I want to forward this to an agent and a different seller who have been stalking me in regards to BPO interior inspections I have forwarded in the last two weeks :)

I always call the agent first and the squawk at me "It's in the MLS, call the sellers." ~OR~ They try to block the BPO from happening which will instantly kill the deal.  No BPO=No short sale.


Jan 28, 2008 11:48 PM #1
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