Picture takers - BPO's

I'm starting to ask for ID when a BPO goes out to a property.  Usually, we email the BPO agent or appraiser ahead of time to confirm appointment, but two weeks ago we had a BPO ordered by Chase.  I waited patiently an up rolls this hunk of junk car and a girl that couldn't have been older than 20 climbing out of a back seat who whisked by me took a few pictures and then took off.  Of COURSE the BPO is about $50,000 out of wack right now.  When I looked up the BPO agent's website it says she has 10 years experience so unless this girl started as an agent at 10 years of age, the BPO sent someone to take pictures and never actually walked through this property.

 

I'm so angry because I KNOW BETTER.  From now on, when we do our confirmation email to all BPO agents and appraisers it will have right in it, PLEASE BRING IDENTIFICATION.

Sorry, I had to vent.

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Permalink Reply by Joseph C. Alfe on June 13, 2011 at 12:04pm
good idea, report this to the lender.  They are paying an agent to do bpo's, and they expect them to be done by the agent, not some flunkie.  I've gotten lenders to re order bpo's because of this.
Permalink Reply by Smitty on June 13, 2011 at 12:23pm
I did report it but they didn't seem to budge.  They definitely opened their eyes a bit when I sent in 3 comps but then they wanted them within a 1 mile radius.  Only one of the 3 was within one mile.  Any other solds are not true comps, so we're at a stand still.
Permalink Reply by Joseph C. Alfe on June 13, 2011 at 6:37pm

then do a detailed CMA-basically your own bpo, and file a value dispute.  I include pictures of any property defects, area crime statistics, anything to justify my deal.

 

Permalink Reply by Smitty on June 14, 2011 at 8:41am
The negotiator clearly stated they don't take outside appraisals or valuations.  My best bet was to provide the three comps.  The buyer actually just had a contractor walk through the property, so I'm going to try that route.  I already sent pictures of the issues with the property. 
Permalink Reply by Joseph C. Alfe on June 14, 2011 at 11:22am
I know they dont take outside bpo's, but compile all your data and title it "Valuation Dispute"
Permalink Reply by Smitty on June 14, 2011 at 12:29pm

Will do.  That's what we do for BOA. 

 

I'm sooo mad at myself that we didn't get this chick's ID.  From now on we are doing a MANDADORY email confirmation with a "BRING PHOTO ID" in the subject line. 

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