and that means they want to unload the property and move on. Banks are notlandlords or property managers and have no intention to become so when itcomes to residential housing.Another 90 days pass and we have the second BPO ordered by Indy Mac. Thistime we are able to make a stronger case to the BPO agent, plus the BPO agentwas willing to hear me out as I “pleaded” my case for my opinion on the value of the property. Also, we now had over 120 days of marketing time on the MLS andthis always helps our case in a value dispute. I made sure to let the BPO agentknow that this property already had the first BPO 3 months prior and where thatvalue came in at.BPO value comes in at $200,000. I lost my previous buyer at $220,000 but hadsome backup offers, which were willing to come up to 200K but no higher. Thisis extremely important to know. You have to be aware of the market value of theproperty and know what ($) you can ultimately sell the property for. I knew onthis deal that the first offer I had at $220,000 was a great offer, but I wouldunlikely get that price again. Most of my other offers that came in for the propertywere at the $175,000 to $200,000 range. This was the range that I wanted theBPO value to come in at. I didn’t want the value to come in at $220,000 eventhough I previously had an offer at that price. Although, the other offers werelower, they tended to be stronger on financing and motivated only by getting a“deal”.We finally received approval for the deal 1 week before the foreclosure sale date.The family living here was living in a sort of surreal world unable to believe thatthrough all the BPO’S and negotiating the bank was still willing to go through withthe foreclosure process. Even has the bank knew what the values of theproperty were and what prices all of the offers were coming in at. Surely thebank knows that in an REO they will be unable to obtain an offer for higher, butthis is the world of short sales and foreclosure and common sense on the bankspart is a rare commodity.