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re: Buying investment properties...
Posted on 6/9/14 at 11:05 am to trillhog
Posted on 6/9/14 at 11:05 am to trillhog
quote:
i thought they were supposed to be a cheaper alternative to a full appraisal but i really have no idea.
Not really. Maybe on a refi or home equity line they are cheaper because they are less demanding. There are different levels of BPOs. Some are just simple drive by BPOs and some are as involved as an appraisal may be.
1
Posted on 6/9/14 at 1:38 pm to stout
have you had any experience dealing with lenders wanting environmental surveys and such? I had one ask me for a Phase I Environmental Site Assessment Report on a property we bought we had it done and passed but if we hadn't it would have been another phase you have to go through that i heard cost 30k. I'm looking a site now that used to be a gas station and i know this is gonna come up again. Any clue on how serious they get with this clean up stuff, i'm scared of it.
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