BPO-Tie An Anchor To His Leg?
I met a realtor at the property. He almost ran from room to room. He would hold his camera up & take shots of rooms with out the lites on. He said he didn't need to go into unfinished basement rooms. I think he was in the property for 3min. :-o Picture me chasing after him trying to point stuff out & trying to tell him about the sellers' hardships. :-x
I don't know if he was allergic to the 3 dogs or had to use the restroom! 
He did stop & talk before he drove off. He is, apparently, a very experienced realtor speciallizing in foreclosures & REO's. He wouldn't indicate his prelim. but it was for the 2nd which made the prop. way over mortgaged, so even if it is high, it shouldn't affect my deal much. 8-)
Next time, I'll bring an anchor! :-D
Happy investing,
Kelly(WI)
Maybe bring a cup of coffee.... and a cup of tea... just in case. And a six pack of mini donuts....
Bring your own comps and ask the broker or broker's agent if your comps are valid and if not, why. Engage in conversation.
Hand the broker or broker's agent your photos of the items which will support your claim that the property isn't worth what the lender thinks it is worth.
[addsig]
Thanks SSPro,
Good idea about the coffee and donuts. The property was occupied however, so maybe at the car before he drove off. I did hand him a BPO that I got a copy of ,which was done previously, list of repairs with estimate, and some comps.
I felt like a tail as he was rushing thru the property, attempting to engage him in conversation. At least he stood still for awhile after to chat.
Kelly(WI)
People that do this all the time get a feel for it and can do the walk through pretty fast.
In addition if he's working for the second he may have already figured his guy's toast.
He may also get paid by the job and is trying to boost his hourly rate.
I just found out he was actually working for the 1st and he came in way high!
Possibly no deal now but I will attempt to convince them I will be saving them time and money by accepting a short now 'vs' their holding and selling costs later. Has anybody had much success with this, in the face of a high BPO?
Kelly(WI) :-? [ Edited by knucs on Date 04/22/2004 ]