BPO Walthrough Help...
I have a bank interested in dealing. After receiving my offer packet complete with pics and contrator estimates the bank is willing to deal but wanted to order an "internal" BPO as opposed to the "Drive by" they had done originally. He said the #s dont wuite match up but he's willing to take a deeper look before countering.
The bank rep listed me as the contact and Im meeting with the realtor shortly. Any suggestions on how to approach this BPO in assuring that I get the realtor to make it as low as possible.
I was planning on showing them the pictures/estimates/and physically walking them thru all the issues with the property. Any way that you short salers out there have helped them realize the have a horrible property on their hands other than what Im planning? 
Thanks!
MJ
if its an appraiser they will know that the house is a foreclosure, or they should know. dont be afraid to point that out, especially to a realtor if thats whos doing it. also if the property is in a bad neighborhood. bring low comps to give them and just tell them your dealing with buying it off the bank but it will have to come in low for you to buy it. we had no problem talking down the appraiser on our last deal.
i have heard of people going as far as spraying soda on the ceiling and putting a tarp on the roof so they could say the roof was leaking, you should not do this. just point out any areas that need to be fixed.
Not doing anything illegal just want to make sure that they see all the issues on the inside correctly cuz the outside is decent and in my opinion would cause the higher BPO but Im hoping once they are inside it's a no brainer...pet was left in the house to die so carpets and walls are destroyed...
Thanks for the help!
Happy holidays.
MJ
Basically I think you have the general idea. The comps are the most important. The realtor wants to know what figure you want. If you can do a factual market analysis and give them everything they need....generally they seem to copy the data over and come up with a figure extremely close to mine.
Yes, BPOs are just companies paying real estate agents $60-$80 to go inside of a house, snap a couple pics and take a market analysis. I do them for several companies. I'm sure just explaining to him/her what you are doing will help out.