These video’s will teach you everything you need to know about how to complete a BPO for a bank. Simple and easy! BPO is an acronym for Broker’s Price Opinion. BPOs are considered to be an Agent’s REO resume. We will teach you how to do Quality BPOs so that you can have a Quality REO resume. Watch & Learn. Free for Realtor and always will be. Note: Background contest have already been won. Visit the respected pages for details.
TOP 10 RESPECTABLE BPO COMPANIES PROVIDED BY NETWORK AGENTS
- Asset Valuation & Marketing (AVM)
- Clear Capital
- DispoSolutions/SummitValuation
- eMortgage Logic, LLC
- InsideValuation
- Lres
- Meridian Asset Services
- Old Republic Default Mgmt
- Proteck Valuation Services
- Residential RealEstate Review, Inc (RRReview)
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What is the difference between leasehold** and fee simple*? (See below for definition)
*FEE SIMPLE: Fee simple ownership is probably the most familiar form of ownership to buyers of residential real estate. Depending on where you are from, you may not know of any other way to own real estate. Fee simple is sometimes called fee simple absolute because it is the most complete form of ownership. A fee simple buyer is given title (ownership) of the property, which includes the land and any improvements to the land in perpetuity. Aside from a few exceptions, no one can legally take that real estate from an owner with fee simple title. The fee simple owner has the right to possess, use the land and dispose of the land as he wishes–sell it, give it away, trade it for other things, lease it to others, or pass it to others upon death.
**LEASEHOLD: A leasehold interest is created when a fee simple land-owner (Lessor) enters into an agreement or contract called a ground lease with a person or entity (Lessee). A Lessee gives compensation to the Lessor for the rights of use and enjoyment of the land much as one buys fee simple rights; however, the leasehold interest differs from the fee simple interest in several important respects. First, the buyer of leasehold real estate does not own the land; they only have a right to use the land for a pre-determined amount of time. Second, if leasehold real estate is transfered to a new owner, use of the land is limited to the remaining years covered by the original lease. At the end of the pre-determined period, the land reverts back to the Lessor, and is called reversion. Depending on the provisions of any surrender clause in the lease, the buildings and other improvements on the land may also revert to the lessor. Finally, the use, maintenance, and alteration of the leased premises are subject to any restrictions contained in the lease.
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