The Phil Leng Team: Washington: Snoqualmie

The Phil Leng Team Has Completed Almost 3000 BPOs

The Phil Leng Team Has Completed Almost 3000 BPOs

The Phil Leng Team Has Completed Almost 3000 BPOs

A BPO is a Broker Price Opinion. It is somewhat similar to a comparative market analysis that realtors have done to establish value when putting up a house for sale. The difference is, that it is done at the request of a bank or financial institution, and is much more technical than a typical comparative market analysis.

The Phil Leng Team has completed almost 3000 of these broker price opinions. They are one component of pricing that a bank relies on when they are working through the process of doing a short sale, foreclosing on a house, or valuing a property that they just acquired through the foreclosure auction. They may use several real estate agents over a 2 year period on a property, and may order as many as 8 different BPOs during that period of time.

We were called on to do quite a few of these price opinions this week. Some on properties we are selling for banks. Some on properties that are in the short sale process. And some are just entering foreclosure, and the bank needs to know what they will be dealing with, if the foreclosure does go through to auction.

Here is one we did in the beautiful little town of Snoqualmie.

 

 phillengteam.com

The Phil Leng Team

206-409-6600

philleng1@gmail.com

http://www.ilovekirkland.org

http://www.kirklandhomevalues.com

 
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Comment balloon 2 commentsPhil Leng • April 15 2012 10:51PM
The Phil Leng Team Has Completed Almost 3000 BPOs
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The Phil Leng Team Has Completed Almost 3000 BPOs The Phil Leng Team Has Completed Almost 3000 BPOs A BPO is a Broker Price Opinion. It is somewhat similar to a comparative market analysis that realtors have done to establish value when putting up a… more
House in Snoqualmie Ridge Washington
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House in Snoqualmie Ridge Washington Today I was called on to price a house in Snoqualmie Ridge Washington. It is a ways away from my home in Kirkland, so the fee of $45. 00 was not enough. I asked for $70. 00, was offered $60. 00. I had the time… more