Moorpark Short Sales: What is a BPO?

Ventura County CA – If you have been reading about short sales, then you have probably heard the term "BPO" and wondered what it meant.

BPO stands for Broker's Price Opinion. A Broker's Price Opinion is when a licensed real estate agent gives their opinion of the value of a property.

That value is what the lenders use to process the short sale. Most short sale approvals or denials are based off of that opinion of value.

The agent goes thru all the recent sales of properties similar to the property they are valuating. They want to find the 3 closest comparable sales.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The more recent a sale is then the closer of a comparable it is considered to be. The same goes for properties that are close geographically (in the same neighborhood is preferred) and close in size and number of bedrooms or baths.

Most agents are not appraisers. Because an appraiser's license is required to appraiser properties they give their opinion of the value. Now, I'm sure you are wondering, " Why do the lenders use these rather than an appraisal?"

Here is why. Many people think they are more accurate of a valuation than an appraisal. Agents are more in tune with exactly what a property can sell for.

After all, whatever opinion of value they put for a property is usually supposed to be backed up later by a sale for that price. That causes agents to be more accurate with their valuations.

That accuracy is why the lenders use their valuations rather than an appraisal. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at cjohnson@prucalhomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 805-208-0823

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ventura County loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this,
Chris B Johnson, Realtor

Chris B is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

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View My homes for sale at www.ChrisBJohnsonRealtor.com.

Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Realtor, Moorpark Short Sale Realtors, Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor, Certified HAFA Specialist, Moorpark Short Sale Realtor, Thousand Oaks Short Sale Realtor, Westlake Village Short Sale Realtor, Newbury Park Short Sale Realtor, Camarillo Short Sale Realtor, Simi Valley Short Sale Realtor, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Realtor at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County short sales. Ventura County Short Sale Realtor, Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor.

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