What are REO/BPO services ...
and what can Lorusso’s REO team offer you?

The Lorusso team are your specialists when it comes to REO and BPO services. For every customer, we use technology and tools to meet your orders and requests in a timely, professional manner.

The ABCs of REO and BPO

REO stands for "real estate owned" and means the property is owned by a corporation, not an individual. REO properties are often listed "as is," which makes them ideal for buyers who are looking to fix up properties and use them either as a principal residence or an investment property.

BPO stands for "broker price opinion", whereby a broker performs an analysis to be used in collections and loss-mitigation situations. A BPO report includes a photo of the home, information collected during a drive-by examination of a home's exterior, and data from external sources such as previous sale information, property assessments, comparable neighborhood sales and current area listings. BPOs can decrease both loan costs and turnaround time, and minimize credit risks through reliable valuations.

Lorusso’s REO team services include:

• Pre-foreclosure drive-by BPOs
• Interior BPOs and valuations
• Complete market analysis
• Eviction processing
• Cash for keys
• Comprehensive documentation services
• Occupancy status verification
• Securing vacant properties (re-keying, sign posting, title work, contact utilities, clean-up bids)
• Property clean-up (interior, exterior, ongoing)
• Unmatched marketing/sales plans
• Offer receipt and presentation
• Closing

If you have questions about the REO and BPO services offered by Steve Lorusso click here to contact us.