Commercial borrowers and transactions are usually more sophisticated so you not hearing these questions from the commercial LO because he was just moving on to what he thought the conversation was really about.

The most important criteria is to consider the level of experience, expertise and sophistication demonstrated by the 1031 Exchange Qualified Intermediary.  

It just means more work will go to appraisers that are more skilled and that may lower the income for less sophisticated/old school ones that can't learn new evaluation techniques.  

Insurance isnt mentioned enough when people look to get sophisticated with houses. 

For other less sophisticated platforms like VRBO we have to use trust accounting. 

In nearly all cases, this individual is not in the lending business, but may have some sophistication in the world of finance.  

Jeremy: It depends on how sophisticated a buyer you find.

It is ironic but true that it's often easier getting a larger deal done than a small one due to the sophistication of the parties involved.

I have been watching and researching Hubzu for many months and what I found is that Hubzu has a sophisticated calculation to determine reserve and opening bid based on prior bids, BPO as well as a WAG.Also each property has a local agent/broker associated with it and it looks like the agent/broker can over-ride any number presented by Hubzu.What I do is determine a fair price (ARV) for the property.

We are set up under the RegD 506(b) exemption which allows for unlimited accredited investors and up to 35 sophisticated.