I’m 3 of 3 where the lender will not disclose the BPO - it seems they are cracking down on giving out this information - this wasn’t and issue before. Anyone else having this problem? I guess I can see why they won’t but needless to say it helps with counter offers etc.
This is the Loss Mitigation Reps call. If they don’t want to send it to you then they don’t have to. Generally it is because it came in lower than what they want.
When it comes to REO’s, the asset managers are generally more than willing to send you ALL of their BPO’s.
GooD LucK! :beer
Cruz,
I’m currently in the middle of a ss with HomEq and the appraiser finally told me the BPO on the property is $160k. The HomEq supervisor told me that they would not take less than $160k. Today, another LM told me they needed $197k for the deal. After I told her that the BPO was $160k, so why are they now asking $197k, she told me I was misinformed on the BPO and I aked her where her boss got the $160k figure? She told me that my LM has 30 days to respond, but my offer of $100k is definitely rejected and to submit a more realistic offer, since they had a little ‘wiggle room.’ I’m offerig $120k and moving on if they reject it!
TB
Your scenario TommyB made me think. I’m thinking it really doesn’t matter what they come up with anymore - we come up with our numbers, we put in the offer, we know what we will buy it at and if they counter offer we decide to take it or leave it - it makes sense to me now not to even ask - only case I would maybe fight is if the house needed serious repairs - thanks for the input