BEST ANSWER
The BPO (Broker Professional Opinion) is submitted to a bank in the case of a short sale or foreclosure, it is basically an appraisal to determine the current value of a property. The negotiator is a bank representative who is, in the case of a short sale, determining if the offer price is comparable to the BPO and what the bank wants to get for the property. Are you sure the negotiator is revising the BPO, or is he/she reviewing it. It can take a while to get an answer from the bank, especially if the listing agent has not submitted all the necessary documentation.
I just got an approval, only 4 days after my property was assigned a negotiator in part because I submitted ALL the documentation at one time so the bank did not have to request additional information.
Please let me know if I can be of further assistance
Thank you
Carol Herron
239 919 4652
Fri Nov 6 2009, 07:00