Dealing With Expired Short Sale BPOs
October 22, 2010 / /
http://kevinandfred.com/power-hour/brokers-price-opinion/
Kevin and Fred discuss dealing with expired BPOs
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HOW TO CLOSE AT LEAST 3 DEALS IN YOUR NEXT 90 DAYS
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About the Authors
Kevin Kauffman & Fred Weaver
Kevin and Fred the founders of Group 46:10. Over the last 10 years Kevin and Fred, and their team have closed tens of millions in real estate all over the country and have created some of the best training for agents in the market. Kevin and Fred are also highly sought after teachers whose work has helped agents all over the country build their own next level real estate business.
No comments yet? Has no one else run into this before?
I have!!
Question about life of BPO. I’ve experienced a timeframe of 3 months validity for conventional loans and 6 months for FHA and VA. Truth to this? thanks, Tasha
Great question! Yes, we’ve seen the same. VA and FHA typically say their values are good for 6 months while other investors are closer to 90-120 days.
I personally think these timeframes are in place to just ensure that the servicer is not spending lots of money ordering new valuations each month or even more frequently than that. At the end of the day, they can order them as frequently as they want if there’s a valid reason (i.e. your BPO dispute shows them their BPO is way off!)