I do a lot of BPO's and have for almost 20 years . The thing lately is that when you submit the BPO and then the asset company or who sent the BPO, kicks it back saying they have better comps they have found on Zillow or where ever and want me to replace my comps.. Havent they figured out that IF there were better comps i would have already used them? they are 800 miles away and telling me my market? they need to ask me not tell me. Plus trying to use a ratio from sold to market value isnt a smart idea either. In some areas that will not work period. A house is only worth what the market brings not what someone wants it to be worth. Rural BPOS are a lot of my business too and the asset companies need to understand the rules for a surburban BPO and a rural BPO's are night and day and cant use same rules or anything. They are not in neighborhoods or subdivisions, you might have a 3500 sq foot brick house on 10 acres and the closest property is a singlewide on one acre with a pig in the front yard. So going 15 miles away for comps is the only choice . So i sure wish they would uinderstand all BPOs are not the same. ( never will be )
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Come in and discuss whats on your mind about Fort Worth and Tarrant County real estate news good or bad. Let if fly. Floor is open. Azle, Eagle Mountain Lake news welcome also. Matter of fact, talk about whatever you want in here. I pay the rent so its my choice.From foreclosures,reos to talk of the town.