Subscribe to Answers
You should offer to pay for the BPO and offer to give the listing to the agent
Candice A. Donofrio
Fort Mohave, AZ
Hope this worked out well.
If you are going to order a number of them, hire a national bpo company who can manage them, hire the agents and send you the results.
BPO is what REO lender or servicor of no performing note orders. They do cost money. There are a few services that offer free AVM. Two agents in that market Petra Norris and Fran Williams I would recommend. You will need to call them and work out something. Lakeland market values are not sky high. I would suggest you look at who has the largest number of listings in Lakeland not Tampa
BPOs are prepared by Realtors working for a bank. I think what you need is more of a comparable market analysis and you should reach out to a local Realtor or possibly hire an appraiser.
If you are purchasing NPN the BPO is not as important as the discount. And you are correct, you are sufficiently upstream to have a plethora of profitable exits before a distressed sale. You could even get some 'Hardest Hit' money.
Big G and BPO search should present you many organizations from which to choose.
However, if you really want to work directly with agents (that is a win/win) AR is a great place to throw your line into the water. You may find the AR referral function helpful also since that process will initiate alerts to participating agents. Dig around in the links below the image on your AR profile page.
Please let them know your market is buying notes. Those agents who are not familiar with the practice WILL be disappointed with the outcome. They will feel betrayed if you exercise an early exit.
I'm about to publish a blog on this topic.
This is not necessarily the best place for such a request, but it would be a good idea to look for agents who are working in that area and know the market, and reach out to them individually. Let them know that you intend to pay them generously for their time and expertise, and that should you list the property they will be your first go to. Otherwise, hire an appraiser.
Add the city and state to your post - the part that shows in Bold
Find out who are the top perfoming realtors in that area and interview several. Find the right fit for you and your business goals.