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Updated about 7 years ago on . Most recent reply

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18
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3
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Peter Lipschutz
  • Investor
  • Philadelphia, PA
3
Votes |
18
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BPO values are so inconsistent!

Peter Lipschutz
  • Investor
  • Philadelphia, PA
Posted

I just put in offers on my first two NPNs. The seller supplied recent BPOs on the properties and I "verified" them with values pulled from Trulia, Zillow, etc. Everything looked fine.

After we agreed on price, I spent close to $400 and ordered my O & E reports and my own BPOs. The new BPO values came in at HALF the value of the seller's BPO and websites. 

I understand the numbers are just opinions of value and I expected a variation of 10-20%...but 50%?

Is this unusual? I feel like there's got to be a better way. Any insight or suggestions that would allow me to avoid this in the future would be appreciated.

Thanks!

Most Popular Reply

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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
10,046
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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorReplied

A BPO is a Broker's Price Opinion. I wouldn't take it for much of anything - especially from a seller's agent. I would verify with my own agent before putting in an offer. 50% off seems deceitful.

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