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What Exactly Is a BPO?
A "BPO" is an acronym for the phrase, "Broker Price Opinion." For many of you this phrase is a completely new and foreign term. In actuality, it is something that not many brokers, agents, appraisers or members of the general public know about.
A Broker Price Opinion report is an opinion of value that is conducted by real estate professionals and/or appraisers to help determine the estimated current market value of a specific property. A typical BPO form is 2-3 pages, is either an exterior or interior inspection and is seen within the valuation industry as an option to a full appraisal report.
Some banks, lending institutions and asset management companies offer options to their customers and clients. Some of the reasons these companies will ask that a Broker Price Opinion be done on a property are: when doing refinance loans, home equity loans and lines of credit, the removal of private mortgage insurance and portfolio acquisitions of performing loans. This option gives everyone choices so they don't have to pay for a full appraisal and instead pay a lesser amount to have a real estate broker, agent or appraiser; complete a Broker Price Opinion.
Also, some BPO's are used to help banks, government-backed mortgage providers and lending institutions determine the "Current Market Value," for a property that they are financing and the mortgagor is defaulting on their monthly mortgage payment that they are contractually bound by. They can use broker price opinions to help with determining if a property should go into pre-foreclosure or foreclosure. Perhaps, they want to check out other less expensive alternatives that are available instead of foreclosing on a property, such as: deed in lieu of foreclosure, bankruptcy, loss mitigation, a forbearance plan, a short sale situation, charging it off, or using a junior lien protection plan.
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What Can I Expect to Make?
I average between $2,500-$4,000 a month doing just BPO work!
I have been paid different amounts for doing BPO orders:
Exterior BPO's that pay anywhere from $40-$120
Interior BPO's for anywhere from $50-$200,
2nd Opinion BPO's for between $50-$85, and
Property Condition Reports for $10-$25
The fee that you receive is dependant on a few different factors: which company you work with, the distance from your office to subject property, the amount of time they provide to complete the order and sometimes based on the fee that you ask for to do the order.
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What Type of Payment Methods Do You Offer?
NEW, I now accept ALL forms of payment! You can pay with a credit/debit card, personal check, cashiers check. Give me a call today to process your order.
What's Your Return Policy?
Customer satisfaction is my top priority! I give a 100% Money-Back Guarantee that can be refunded within the first 3 days after you make your purchase. I feel so confident in the quality of the products I offer therefore if you are unsatisfied for any reason I will refund your full purchase price. I have not had to do this yet and plan on keeping it that way! Feel free to email me with any questions or concerns.
How Do You Ship My Item?
I offer FREE shipping! You will receive the BPO Manual in a paperback version as well as a CD that will contain the BPO Manual and the Essential BPO and REO Guide in an eBook format for you to easily enjoy time and time again. I'll also include FREE BONUSES on the CD as well that will help you with your BPO Business. And remember you will have 2 weeks worth of personalized training to use at your convenience!
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I have been selling BPO eBooks (that I have authored personally) online and on eBay since January 2007
and your 