The Mastering REOs and the Broker Price Opinion course is designed to enable real estate professionals with a thorough knowledge of the concepts of valuation, marketing, and management of lender real-estate-owned (REO) properties and the execution of each including the BPO (Broker Price Opinion).
This course will teach the procedures, guidelines, and requirements of the lender to achieve the desired goals in the cost-effective liquidation of the bank's REO properties. The class will provide an understanding of the procedures, legal, and sensitivity issues working with and removing the occupant of a REO property.
How you will benefit from taking this course:
- Learn sources of REO clients and techniques to establish successful relationships.
- Understand how to establish realistic market values for REO properties through a greater understanding of appraisal valuation concepts including adjustments to value in preparing the BPO.
- Discover how to estimate typical costs to repair REO properties for "as-repaired" valuation.
- Learn the requirements and procedures of managing the REO property.
- Understand the elements in preparing the REO Advisory Addendum (REOL)
- Locate and utilize a variety of outreach marketing techniques for selling the REO property.
- Recognize the specific duties involved in managing the escrow of the REO property and the importance of timely, periodic and necessary communication and reporting to the seller bank or 3rd party asset management company.
CEUs - 4
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