What is the agent of BPO doing?
Agent for determining the prices of a broker (BPO) is a neutral third party hired to help determine the current real market value of a specific property. These agents are usually real estate brokers hired by a mortgage company, a loss of mitigating society or financial institutions. Providing the opinion of the broker is faster and cheaper than performing a full -fledged evaluation. Agent BPO will determine the value of the properties on the basis of several factors. With the obligations of similar licensed real estate estimates, BPO agents use the knowledge of other real estate sold in the area to help determine the value of the property.
The real estate evaluation serves the same purpose as BPO, except that the evaluation tends to include a more detailed inspection and is solved by licensed appraisers. Banks will use BPO agent because it costs less and can usually be done much faster than traditional evaluation. There is a debate on the validity of the use of BPO rather than a traditional real estate evaluation; When the ecOnomic time is tight and the market closure rates are high, BPO can be done faster than assessments. This is especially valuable when the bank wants to "briefly sell" the property within 30 to 90 days. BPO agents can also evaluate real estate if the owners want to refinance a mortgage at a lower interest rate.
The basic factors considered by Agent BPO in the assessment of the property are the current condition of the property, the selling price of similar houses in the area and what repairs it may be necessary to sell the house as soon as possible. Most BPO agents provide an exterior report that includes photographs of the house, property and the surrounding neighborhood. They are looking for any apparent external defects or problems and use this information to estimate the internal state. Adjustments such as the need for new roofs, other bats or better views are also considered by the BPO agent in determining the real market value of the property.
most sPolečnosty prefers the BPO agent to have a real estate license, some experience in the local real estate market and the knowledge of the neighborhood in which they work. Like the evaluation of licensed assets, the BPO agent will be expected to remain without any part of some parties with interest in property transaction. Real estate brokers and current license agents are a natural choice to fulfill the BPO agent.