Broker Price Opinion (BPO): Essentially, a Realtor — based on the condition of the home and current market conditions — provides the lender with an estimate for the value of the property. The BPO is the key piece of information that a lender will rely on to make a decision regarding a short sale. The lower the estimate, the better it is for you.
From the sellers agent:
"BPO was sent by the agent to the bank this morning so it will take couple days for the bank to process. I will let you know when I get another update."This is one of the reasons that a short sale is not short.
When I was younger, my little brother observed on a Sunday that our congregation was fasting, "Fast Sunday is not fast."
5 comments:
Short : short sale :: Fast : Fast Sunday
Great analogy!! Hang in there! :)
Did I ever tell you how much I adore you? I remember the first time I read something you wrote...so poignant and so far from your spoken personality. It floored me. You are amazing and your writing often speaks to my soul. Oh, by the way, I too loved the analogy.
This is why I was a technical writer. To make boring stuff speak to your soul. :)
Amen! Best wishes.
jeriDawn is a doll
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