Sorry to say, but you are just getting started. When a BPO is finally back in the hands of the bank, they might order another BPO, who knows, but be assured that they will take their sweet time. They never get in a hurry with the short sales. They really analyze every aspect of the transaction with a fine tooth comb.
So hang in there and maybe you'll luck out, and it will go faster than you think.
Old West Realty Inc.
The seller's agent should NOT meet with the BPO agent. I do thousands of BPOs, have taught thousands of agents on BPOs, and this is the biggest killer of a short sale. It gets worse because agents have been taken to court because it can be considered price fixing. If this happens does the homeowner have recourse too because you broke a rule that caused things to fall apart? Think about that, because they do and they have won in court already. Talking with other agents about comps and pricing is different than talking with an agent involved in the transaction.
If the home listed short sale is not at a rediculous price, and there is no funny business, it should not be a problem. If the agent is inexperienced or from out of the area, there are ways to dispute the BPO to get another one ordered. Just keep a positive attitude realizing that another step towards the finish line has been taken. There are many ways to find out who is doing the BPO without meeting with or influencing them, and then you can see for yourself how long they've been licensed or where they are from.
Seriously, if an agent tries to meet me or influence me in any way, I send the BPO back and the whole process of ordering another one can take however long. There is too much of this going on and this is how realtors get a bad reputation.
You still have another 2 to 3 weeks, then your loan process which is another 3 to 4 weeks. So another 6 to 8 weeks..