Yeah I know Chapalita had problems but man that 360k pricing was out of whack even with alot of remediation. I have not checked out his other listing though.
For some reason I always thought the BPO was done by an independent (other then listing agent) brokerage. I always assumed the lender would definitely ask the listing agent for a suggested price.
My guess, and you can correct me if I am wrong, is that there is some variance on how much the lender weights the BPO verses appraisal, verses listing agents suggestion. I guess it all depends on the relationship of the asset manager to the listing agent.
