BPO & Sales Comparison Approach
Please find a list of asset management companies or bpo that you can contact by the internet. I am not charging you a dime for this information. You can contact these companies with the intent of providing them with your real estate license or appraisal license in order to ascertain a contract from them in providing broker price opinions for a fee of about $50.00. The approach that you should use when doing a BPO is the sales comparison approach which is based upon houses for sale that sold.
The sale comparison approach consist of you comparing the price of the house that you are evaluating with other exact houses that have sold in the last 90 days. The shorter the period the more accurate the comparison in terms of sale price. The comparison should be concerned with like type houses layout such as ramblers virs two story homes. It should be comparison of residential or commercial. The focus of the person doing the bpo should also be on whether the house has brick or aluminum siding, basement or crawl space, garage or no garage, style of roof, storm windows, number of bed rooms, bath rooms, kitchen, type of heat, attic, etc. Also you should look at houses in the same neighborhoods and more importantly the COMPS must be at a Arms Length Transaction which means the following:
1. The buyer paid cash for the property at closing or obtained a
conventional mortgage through a lender to pay seller the
agreed upon price at closing.
2. The seller did not agree to any unusual payment concessions
such as owner financing.
3. The buyer and seller are not related.
4. The buyer and seller are acting in their best interest.
5. Neither the buyer or sell are actin in duress.
6. Both buyer and seller are reasonably informed about the
7. The property has been avalilable to the public for a
reasonable period of time.
The list below are Asset management companies:
ETC REO Management http://www.etcreo.com/
Evaluate America http://evalue8america.com/index.php?pageid=4
Evaluate USA http://www.evaluateusa.com/aif.php
eValuation Solutions http://www.evalonline.com
Evalueit Rels. http://www.evalueit.com/asp/home/contact_us.asp
Executive Asset Management http://www.defaultresource.com/vendor-opportunities/
Financial Asset Services http://www.fasinc.com
First American REO Servicing http://www.corelogic.com/reoservices/#container-JointheAgentPortal
First Preston http://www.firstpreston.com/re_broker_registration.asp
Fiserv Lending Solutions www.fiservlendingsolutions.com
Five Brothers Mortgage Company Services http://www.fivebrms.com/Legacy/Application.htm
Go BPO http://www.gobpo.com
GOODMAN Dean http://www.goodmandean.com
Green River http://www.ivsbpo.com
iMortgage Services https://www.propertysmart.us/vendor_application/NewVendor.aspx?buid=82c7eb91-5beb-49c8-9e95-d8e48f0effff
Inside Valuation http://valuator.insidevaluation.com/ValuatorRegister.aspx
Integrated Asset Services (IAS REO) http://www.iasreo.com