Buying & Selling Homes in Rochester MN

REO & BPO Real Estate


REO / BPO Services

*  Pre-Foreclosure Drive-By BPO's

*  Eviction Process

*  Complete Market Analysis

*  Verify Occupancy Status 

*  Comprehensive Documentation Services

*  Interior BPO's and Evaluations

*  Secure Vacant Properties (re-keying, sign posting, utilities contact, clean up bids)

*  Property Clean-up (interior, exterior)

*  Monthly Reports 

*  Marketing the Property 

*  Closing and receipt

 

 

 

Questions About REO

Q: What does REO mean?
A: REO is an acronym for "Real Estate Owned."

Q: Why do people purchase REO properties?
A: The properties are often listed "as is." These make great opportunities for someone who wants to buy and fix up the properties and use them as an investment property or principle residence.

Q: How is purchasing REO properties different from regular real estate purchases?
A: REO properties are owned by corporations not individuals which leads to significant differences in all aspects of the purchase.

 

Questions About BPO

Q: What does BPO mean?
A: BPO is an acronym for "Broker Price Opinion."

Q: Why are BPO's conducted?
A:  Randa's team performs a BPO of a residential property for use in collections and loss mitigation.  Randa is a Loss Mitigator also.

Q: What is contained in a BPO report?
A: The report combines information from a drive-by exterior exam, previous sales information, property assessments, recent comparable sales and current neighborhood listings and FYBO's, as well as a photograph of the subject property.

 

Randa K. Mickelson
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