The BPO is important, but only one part of the puzzle. The bank is weighing how much they lose, by how much of benefit it is to close a property pre-foreclosure vs, psot-foreclosure for their bottom line. They take in the tax benefits to them obth ways. So it is not alwasy a question of how much you offer, as much as it is, how much they will lose.

BPO and appraisals are two different things, both used by the lender to figure the end value for what they need and what it's worth. The asking price is just that a starting point on any thing listed. Still if there is a loan in the future an appraisal has to be done for that factor as well. One done for the seller, or lender in a short sale and one again, by the lender for the buyer if that is what he is going for. Or a guess by the buyer of what he thinks he can get it for then fix it up and resell it if he is willing throw his own cash into the deal. Either way a lender on a short sale, has to have some one else tell them what it's worth to accept a short sale, when they are in another state and have never seen the property themselves.

Where is your buyers agent assisting you with all of your questions?

BPO's is provided by a professional real estate agent who have reviewed comp's in past 6 months compared that home to other "like homes" in given area. Bank has pictures, entire library of info. If your offer is $180K less that list price may not even receive a response.

Short sale must be approved by bank many factors come into play .

Good luck ! I recommend to any all of our clients best keep looking if you have a short sale or bank foreclosure till the keys are in hand title transferred in your name.

National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
Lynn911