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Updated almost 7 years ago,
How much pay for a BPO?
I'm looking at a pocket listing to potentially purchase and flip. I have my own idea of what I think the the value of the property would be post improvements, but would like to consult with a local realtor for a second opinion.
I've elected not to sign any type of agreement with a local realtor, though I have put a backup offer on another home recently with the listing agent. I would like to ask him to do the broker price opinion for this new potential flip- He is aware I don't plan to sign an agreement, so doesn't have the incentive of a commission down the line, but I would like to be fair an compensate him for his time and efforts. I know it's unorthodox to pay for a bpo, but given the circumstances and wanting to be respectful of his time, how much do you think would be fair to offer to compensate them for the bpo?