BPO for MGIC

[washington]

Met the BPO agent at the house.  He stated that the property needs about 30k in work to bring it to market conditions.  He also told me the BPO was for MGIC, Greentree hold the note.  60k was my offer the As is Value will be around 120-130k.  Anything I need to be aware of in dealing with MGIC is this good or bad.

Thanks

[tedjr]

Bad. I believe you were looking for BPO less than $100,000. Pretty sure they will not accept $60,000 if they feel the as is value is $120,000 to $130,000.  Maybe they will counter close to $100,000. My experience has been for them just to say no and refuse the offer and ask me to come back with a higher offer. I have also heard of counters being made on the spot at lower than BPO's. Can not really say what may happen. Just than keep trying.

Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737
512-301-9171 home
512-587-6177 mobile