Joe Mullica is your specialist when it comes to REO and BPO services. For every customer, I develop a custom marketing plan and use technology and tools to meet your orders and requests in a timely, professional manner.
REO stands for "real estate owned" and means the property is owned by a corporation, not an individual. REO properties are often listed "as is," which makes them ideal for buyers who are looking to fix up properties and use them either as a principal residence or an investment property.
BPO stands for "broker price opinion," whereby a broker performs an analysis to be used in collections and loss-mitigation situations. A BPO report includes a photo of the home, information collected during a drive-by examination of a home's exterior, and data from external sources such as previous sale information, property assesments, comparable neighborhood sales and current area listings. BPOs can decrease both loan costs and turnaround time, and minimize credit risks through reliable valuations.