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Why BPO's Are Critical To Foreclosure Investors
BPO? what language is that.  Actually it stands for Broker Price Opinion and it is the key to foreclosure investors successfully completing a short sale.  Of all the pieces in the short sale puzzle, the BPO is one of the most critical to the foreclosure investor.  It will usually determine your success or failure in the negotiations. You can be the greatest at finding foreclosure and pre-foreclosure prospects.  You may put together the most beautiful short sale packages in the history of the planet.  However, if you do not fully understand the entire BPO process your chances for success are extremely limited.
Once a property goes into foreclosure the lender will need to assess the current value of the property.  They do this so they can evaluate ways to keep their ultimate losses to a minimum. To calculate the true value of the property they will request a BPO or Brokers Price Opinion.  This is generally ordered through a third party such as a Realtor or appraiser. 
We all know that banks are in the business of lending money and not in the business of selling real estate.  The fact that banks regulated by the government makes them sensitive to having too many none performing assets ... more

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