BPOs Inc. is a company that provides comprehensive valuations & inspections products, assisting mortgage companies, servicers, financial institutions and hedge funds alike. Over the years, our services have expanded, including working with probate attorneys and homeowners; assisting in determining fair market values on residential assets within the two Florida counties we serve. BPOs Inc. has also become a significant presence in assisting various entities with property inspections when areas have been potentially impacted by recent storms in observing any exterior damages.

As the CEO and founder, Nancy Yialouris offers unsurpassed valuation expertise in her markets, with detailed accuracy, topnotch in-house technology and more importantly, in todays hurried market, quick turnaround times.

Traditional Exterior BPOs

• Estimated value for subject property (30-90 marketing time for “as is” and “as repaired”).
• Subject property condition.
• Evaluation of current condition of subject exterior.
• Estimate of repairs to obtain fair market value.
• Narrative report on neighborhood market trends.
• Outline of typical marketing time.
• Six comparable sales and active listings with exterior MLS photos.
• Subject photo, street view and verification photo.

Interior BPOs

• Full interior inspection noting any and all adverse conditions, damages and or upgrades.
• Special notes dictating possible violations without evidence of permitting when warranted.
• Estimated value for subject property (30-90 marketing time for “as is” and “as repaired”).
• Subject property condition.
• Evaluation of current condition of subject exterior.
• Estimate of repairs to obtain fair market value.
• Narrative report on neighborhood market trends.
• Outline of typical marketing time.
• Six comparable sales and active listings.
• Subject photo, street view and verification photo.

PCR Reports

• Property conditions report
• 1 photo of the subject property
• Narrative dictating conditions and noting any damages.

VRR

• Value review re-conciliation reports
• Compiling data and analyzing market trends in a given sub-division.

What is a BPO?
BPO is an acronym for Broker Price Opinion. BPOs are ordered by mortgage servicers typically through BPO companies, with the goal of determining fair market value for a specific property. Less expensive and faster than an appraisal, a BPO is performed by a licensed real estate broker or agent. A Broker Price Opinion is an estimation of the probable sales price of a residential or commercial property based on the recent sales comparables sold within the area.

Why are BPOs ordered?
The most common reason for a BPO is a delinquent debtor. The mortgage servicer now needs to find the value of the property in order to determine a course of action, i.e. restructure of payments, short sale or foreclosure. Removal of mortgage insurance and mortgage refinancing are two other common reasons for a BPO. It is also often used when assisting with short sales or loan modifications.

What information is required on a BPO order?
Much like a comparative market analysis (CMA), the information typically requested on a BPO order is the specific physical characteristics of the subject property, 3 active listing properties, 3 sold listing properties and digital photos of the subject property.

What is required to perform BPOs?
An active real estate agent or real estate broker already has the items required to perform BPOs - an active real estate license, broker's license or appraiser's license is required along with access to your local Multiple Listing Service, a computer with internet access and a digital camera.

How much experience is required?
BPO’s Inc. prides itself in holding experienced licensees who have a minimum of 2 years experience in real estate and have successfully passed training with our company.

Who uses BPO’s?
A financial institution may order a BPO for the following situations:

• REO property – an accounting designation for a property that a bank has gone through the foreclosure process and has repossessed the property)[2]
• Foreclosure
• Short sale
• As a supplement to an appraisal
• To cross check an appraisal
• HELOC Home equity lines of credit
• Home equity loans
• Requests to remove PMI - Private Mortgage Insurance
• Due diligence for investors or investment bankers
• To determine a selling price for a portfolio of home loans (usually thousands of loans)
• To perform due diligence for a purchase of a portfolio of home loans (usually thousands of loans)
• Any other reason that a bank/lender needs to make a financial decision on a property
  

BPO-VALUATIONS:

Yialouris Group Realty / YGR, offers a unique relationship with BPOs INC, our own dedicated valuation department. BPOs INC., opened its doors in 1997 and has successfully completed thousands of Broker Price Opinions, property condition reports and various other types of inspections, since its formation. As the CEO and founder for both entities, Nancy offers unsurpassed valuation expertise in her markets, with detailed accuracy, topnotch in-house technology, and more importantly in todays hurried market, quick turnaround times. We have proudly serviced Miami-Dade, South Broward and Pinellas county in the state of Florida.

What is the purpose of a BPO? While BPOs are often associated with foreclosures and short sales in determining an opinion of market value, BPOs have been around since the early 1990’s and providing unbiased opinions of value on residential real estate. It is a useful and cost-effective tool that should ONLY be executed by a licensed and experienced real estate agent or broker, knowledgeable of their market areas. BPOs became much more popular after the downturn in the market in 2006. Today they are not just utilized by a number of financial institutions, but are utilized in assisting hedge funds, loan portfolio purchases, insurance companies, probate and real estate attorneys and more. BPOs are indeed unique, and while there are many AVM module software systems out there as technology continues to expand, there is still no real replacement for an accurately executed Broker Price Opinion. A broker who has visually inspected the asset and completed the report using their experience and tangible knowledge on a given market place remains the most reliable support of value.

Types of Broker Price Opinions:

1. Quality Interior & Drive by BPOs- generally using FNMA or Freddie Mac report format. Form provides As-Is and As-repaired values.
2. Property Condition Reports-Quick snap chat of present condition & occupancy status, observing any related adverse influences.
3. Property Disaster Reports-Used in assessing damages after a major disaster in reporting to the client.
4. MSR- Monthly status reports provide most recent activity on a listed property such as showing activity, contract status and new sales or listings that be presently impacting the property.
5. Occupancy inspections- Determining if asset is occupied by owner or a tenant.

Boutique Default Real Estate Management Professionals

Nancy Yialouris - Meet Your Broker

As a leader in the default industry, Nancy Yialouris brings unsurpassed expertise and corporate ties with both lending institutions and asset companies in the managing and disposition of bank owned assets. Through her unique ownership relationship with BPOs Inc., established in 1997, Nancy has completed thousands of valuation products, including managing projects outside of Florida opening the door to REO.

Servicing all of Miami-Dade and Pinellas County; our new Branch office, Nancy has continued to grow the company and has further acquired diligent staff members that understand the default business, its intricacies and demands, ensuring we are compliant with State, local and county ordinances as it relates to REO. Together with her experienced team and licensed real estate associates, Nancy has created relationships with State licensed contractors and vendors, safeguarding code violations and related county concerns are always addressed prior to closing.

Nancy takes pride while working with various institutional lenders and GFE’s; in allowing First time buyers the opportunity of home ownership. She has established relationships with local Mortgage brokers and lenders alike, allowing for incentives to those owner occupants who may not otherwise qualify. In addition, Nancy prides herself in offering bank owned inventory for those assets which qualify under the “First Look period”, promoting homeownership and in contributing to neighborhood stabilization. Nancy brings over 20 years of Real Estate experience and is known for her professionalism and integrity, never compromising her work ethic in order to close a deal. Her expertise includes knowledge of market trends, adhering to time-sensitive timelines, in addition to being involved with Short Sales, Auction properties and Probate. Her clients include but are not limited to JP Morgan Chase, PNC Bank, BOA, Nationstar, Freddie Mac, Fannie Mae and hedge funds.

http://www.ygrouprealty.com/

What is a BPO?
BPO is an acronym for Broker Price Opinion. BPOs are ordered by mortgage servicers typically through BPO companies, with the goal of determining fair market value for a specific property. Less expensive and faster than an appraisal, a BPO is performed by a licensed real estate broker or agent. A Broker Price Opinion is an estimation of the probable sales price of a residential or commercial property based on the recent sales comparables sold within the area.

Why are BPOs ordered?
The most common reason for a BPO is a delinquent debtor. The mortgage servicer now needs to find the value of the property in order to determine a course of action, i.e. restructure of payments, short sale or foreclosure. Removal of mortgage insurance and mortgage refinancing are two other common reasons for a BPO. It is also often used when assisting with short sales or loan modifications.

What information is required on a BPO order?
Much like a comparative market analysis (CMA), the information typically requested on a BPO order is the specific physical characteristics of the subject property, 3 active listing properties, 3 sold listing properties and digital photos of the subject property.

What is required to perform BPOs?
An active real estate agent or real estate broker already has the items required to perform BPOs - an active real estate license, broker's license or appraiser's license is required along with access to your local Multiple Listing Service, a computer with internet access and a digital camera.

How much experience is required?
BPO’s Inc. prides itself in holding experienced licensees who have a minimum of 2 years experience in real estate and have successfully passed training with our company.

Who uses BPO’s?
A financial institution may order a BPO for the following situations:

• REO property – an accounting designation for a property that a bank has gone through the foreclosure process and has repossessed the property)[2]
• Foreclosure
• Short sale
• As a supplement to an appraisal
• To cross check an appraisal
• HELOC Home equity lines of credit
• Home equity loans
• Requests to remove PMI - Private Mortgage Insurance
• Due diligence for investors or investment bankers
• To determine a selling price for a portfolio of home loans (usually thousands of loans)
• To perform due diligence for a purchase of a portfolio of home loans (usually thousands of loans)
• Any other reason that a bank/lender needs to make a financial decision on a property

Traditional Exterior BPOs

• Estimated value for subject property (30-90 marketing time for “as is” and “as repaired”).
• Subject property condition.
• Evaluation of current condition of subject exterior.
• Estimate of repairs to obtain fair market value.
• Narrative report on neighborhood market trends.
• Outline of typical marketing time.
• Six comparable sales and active listings with exterior MLS photos.
• Subject photo, street view and verification photo.

Interior BPOs

• Full interior inspection noting any and all adverse conditions, damages and or upgrades.
• Special notes dictating possible violations without evidence of permitting when warranted.
• Estimated value for subject property (30-90 marketing time for “as is” and “as repaired”).
• Subject property condition.
• Evaluation of current condition of subject exterior.
• Estimate of repairs to obtain fair market value.
• Narrative report on neighborhood market trends.
• Outline of typical marketing time.
• Six comparable sales and active listings.
• Subject photo, street view and verification photo.

PCR Reports

• Property conditions report
• 1 photo of the subject property
• Narrative dictating conditions and noting any damages.

VRR

• Value review re-conciliation reports
• Compiling data and analyzing market trends in a given sub-division.