Commercial property BPOs- Commercial/Industrial Appraisals ...

Ten years ago I was employed at an investment bank engaged in commercial loan portfolio acquisitions, and they ordered BPOs on the commercial properties serving as collateral. I think the going rate was about $300, but we sometimes had to pay $500 in busy metro areas like San Francisco.

The use of BPOs was meant to save time rather than money. In the sale of loan portfolios there is typically a 2-week due diligence period before bids have to be in.
Most appraisers told us they couldn't possibly deliver an estimate of value in less than 2 weeks, so we had to rely on brokers. Some brokers were better than appraisers; others were clueless. It's too bad that the appraisal profession has let this type of business slip into other hands.

Source: http://appraisersforum.com/showthread.php?t=189155

jewel san francisco earthquake san francisco earthquake terminator salvation terminator salvation deron williams jarhead