According to our previous article we have mentioned, BPO Valuation is an ART and our team knows this art well. The objective of Broker price opinion valuation companies is to provide accurate and timely valuation reports to the financial institutions. Each report comes with the turnaround time which is very important to meet the deadlines with no delays.
The BPOs are ordered for mainly the following reasons:
- Refinance a mortgage
- REO property
- Short sales
- When buying or selling home loans
- Due diligence.
BPO valuation is a process to follow a set of standards and guidelines by BPOSG and NABPOP. These help in maintaining the quality of the BPOs which is an essential element of BPO valuations and not to forget the timelines.
Usually, there are two BPOs which are ordered on the same property to cut down delays and to assess the approximate value of a property by two different BPO brokers. It becomes necessary to follow the guidelines and be more accurate while preparing the BPOs. BPO valuation companies create an additional source of income for real estate agents. Hence, doing BPOs with accuracy and on time becomes a priority to maintain a good record and stay ahead of the competition.
BPO valuations have other benefits for brokers, realtors and real estate agents. BPO valuations don’t necessarily end in only earning additional or passive income. There is a lot of learning while doing BPOs. The broker gets a thorough knowledge of local market conditions, neighborhood trends, future real estate market trends and not to forget REO property listings. It adds an advantage for your REO REAL ESTATE. This helps realtor to improve and attain success in his or her overall Real estate Career.
Our team totally understands the importance of all the aspects of valuation procedures and work for hand in hand with the realtor.BPO prepared by us on behalf of the broker will adhere to all the norms, standards and guidelines. We strive hard to maintain the scores and have our broker clients on the preferred list of BPO valuation companies.