www.CostaRicaTicas.com

recently I was asked on another board, Independentgirls.com, to describe the difference between an appraisal and a bpo...



here is how the appraisal process works for sales and re finance loans...

the lender wants the deal to work since the lender only makes money loaning money...most lenders also end up selling the note and very few keep the note in their portfolio

anyway, the lender tells the appraiser how much the sale price is or the value needed for the re finance to go thru...

if the appraiser does not bring the value in at the required amount, and the deal ends up collapsing, the lender will usually never call that appraiser or appraisal management group again......as an analogy, the appraiser must promise GFE and not deliver CBJ.....(are most appraisers whores?....yes)

therefore, the appraisers will stretch the values by just about any way possible to make the deal work and bring the appraisal in at the correct value.

basically, the value of any property in SoFla is what the foreclosure/short sale value is as those sales are the predominant sales setting market value.


we are in for more decline and rough couple more years before things bottom out and then go flat for a long, long time.

look for the lowest sales in your area....that is probably close to what your house/condo is worth even if it has gold fixtures.




then i was asked to describe the bpo process




yes, i will be happy to explain the bpo versus the appraisal process as i am well versed in both...

in my prior post i described the appraisal process with an analogy of a 350 dollar an hour whore that promises everything such as telling you how big your johnson is and shit like that....

imagine now the bpo in another analogy....the bpo is like the 20 dollar (or even phucking less) crack whore with the Dirty Sanchez mustache that shows up at your door after you have requested the prior 350 dollar an hour whore.

Dirty, nasty, overworked, delivered to you on a broken down skateboard, skid marked drawers, going thru withdrawals, needs to use your bathroom every 5 minutes,....you get my drift.........that is the bpo.

the number (or value) is determined by how desperate the bpo crack whore's pimp (real estate broker/bank) is to unload the property in a short sale (short sale = quicky in your car in a suspect part of town and praying to phucking God that no one sees you)

in the end, if one views the current real estate market as dominated by a bunch of lying, backstabbing cocksuckers that would sell their grandmothers for a five dollar rock....then they would have a clear understanding or at least a sound basis for determining value.

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The difference between a Sea Story and a Fairy Tale is that a Fairy Tale starts out 'Once Upon a Time..' and a Sea Story starts out 'This is no Shit...'

(export version only, some restrictions may apply, some assembly required, not valid where the sun don't shine...

if you live in the states of Poverty, Darkness or anywhere outside of The Blessings of Civilization Trust, Inc...other rules may apply)

Great perspective on this subject. The idea of home-ownership is SO oversold in this country, with everybody pushing it so they can get their piece. A pox on all their houses (pun definitely intended).

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"A man accustomed to hear only the echo of his own sentiments, soon bars all the common avenues of delight, and has no part in the general gratification of mankind"--Dr. Johnson
"Amen, brother"-ED