If a BPO is ordered after a very detailed complete package along with a offer from a buyer contract -does the BPO seem to be a positive preview ?

Asked by Kljennin, Virginia Beach, VA Mon May 9, 2011

we listed home--short sale --buyer wrote a contract--all detailed paperwork added to contract. Is the lender asking for BPO a good sign?

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Shanna Rogers, Agent, Murrieta, CA
Mon May 9, 2011
Hi Kljennin,

A BPO is always ordered when a property is a Short Sale. The lender wants to know what the value of the property is based on recently sold comps in the neighborhood. A lender ordering a BPO does not necessarily mean the Short Sale will be approved. If the BPO and the offer are 'in sinc', you are one step closer to approval.

Good luck!

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
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Cindy Jones, Agent, Alexandira, VA
Mon May 9, 2011
A BPO is an independent valuation of the property and the person doing the BPO has no access to the contract that has been submitted to the lender. Does the BPO mean that the short sale will be approved? No there is no relation between the ordering of a BPO and a lender agree to the short sale.

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