Should I bring the listing agent to the BPO

[Dee Xixi]

I am investor working on a short sale. I gave Homeq all my contact information to call for the BPO. today the listing agent called to inform that he have scheduled a bpo on the property. I was very choke, when i call homeq, they said they dont have the bpo agent info yet nor know why he/she didnt contact me as instructed. Have anyone come accross to that yet and how to deal with the situation?
Thanks

[Scott Hubbard]

Originally posted by Dee Xixi:

But Scott, should I even bother go during the BPO? I ended call the BPO agent to find out why she did not call me, her response was I did what was right which is call the listing agent. I am not sure what is the right thing to do now, i did argue with her over the phone also.
Thanks

1. Listing agent, unless they represent you, have only a responsibility to the seller.

2. The BPO agent has only a responsibility to the lender.

This is very common to see the BPO agent trying to get in and out the property as quickly as possible. After all, they make like a Net $40.00 per BPO.


You should be there to meet the BPO agent because they do not have an interest in seeing you succeed. Their interest strictly lies in how quickly they can complete the BPO and get to the next one. Why leave your fate in their hands?

You should always have a back-up strategy. No matter where the BPO comes in at, you can still get a discount if your able to challenge its results.

I NEVER solely depend on influencing the BPO. The reason is it is not consisently effective. Some BPO agents, insist on doing their own thing and mostly you will have little impact at all. If your only strategy is to influence the BPO, then your better off going to a roulettte table causee you will have better odds in Vegas than making money in short sales.

So, assume the BPO will come in higher than you want. How can you show the lender your offer will improve their net proceeds over a foreclosure? Being able to prove your offer is in their best interests is the key to a successful short sale.