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Property Q&A in Torrance Beach : Real Estate Advice

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Fri Sep 17, 2010
Felix Hung answered:
A BPO is only requested for short sales and REOs. If you're in a transaction for a short sale, it will be one of the steps that the seller's agent aka listing agent will help to coordinate (usually). As a buyer and seller you would not be apart of this and at most, you may be asked to let the BPO agent into the home if interior pictures are needed. As mentioned below by previous agents, the BPO is ordered and completed following the acceptance of an offer. For short sales, the lender/bank requests the short sale through a 3rd party management company who then contracts the order out to a local real estate "expert." As a buyer, you just wait. ... more
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