Hey Commercial Brokers! - I'm Looking For Remote BPO Help on a NY Property
I am looking at a property in New York that has been difficult to value from the start and I would like to ensure that the value aligns with the purchase price before throwing away earnest money and due diligence fees. Can't seem to find a broker that does BPOs anywhere on the planet for some reason. Is there anyone that can assist? I would even accept someone remotely, just as long as I can get a quick second opinon.
[{"id": "i3f17zf", "text": "Money or are you asking for a free appraisal?", "replies": [{"id": "i3f1ccu", "text": "Will of course pay.", "replies": [{"id": "i3fimo2", "text": "Dm me the address and I can run a robo underwriting report when I am in the office tomorrow.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i3f84xf", "text": "What asset class? What area of Ny?", "replies": [{"id": "i3f8t1c", "text": "Owner-Operated, multi-use commerical property near Buffalo, NY.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i3fa0ox", "text": "Reach out to a local commercial brokerage - should be able to find a few when you search for similarly located mixed-use/retail properties on LoopNet.  The biggest incentive for brokers to give BOV\u2019s is to eventually list/sell the property, so if that\u2019s not an option you should be prepared to compensate for their time/resources.  \n\nIf there\u2019s a huge discrepancy between your contract price and the price they suggest, you might want to consider hiring them since they likely just saved you from getting fleeced and you probably need representation.", "replies": [{"id": "i3fat6y", "text": "I have reached out to many local brokers. The issue is that there are very few decent brokerages in the area, and I've literally only found a handful of brokers who aren't connected to the brokerage that's on the other side of the transaction. The two dozen or so that have answered the phone state they no longer do BPO's, a few have left the area, and one accepted then ghosted me. Now I find myself on reddit seeking assistance.", "replies": [{"id": "i3fbczj", "text": "Are you going as far as CNY? Syracuse?", "replies": [{"id": "i3fbh1q", "text": "Just south of Buffalo.", "replies": [{"id": "i3fij5z", "text": "I meant. Are you contacting brokers in Central NY", "replies": [{"id": "i3idynf", "text": "Yes, mostly within 45 minutes of Buffalo. Even as far as the capital region. No luck.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "i3fi9bz", "text": "Wow, that\u2019s wild.  In my market brokers would crawl through broken glass just to not be hung up on.\n\nYou could always get it appraised, but appraisers tend to be less in tune with where the market\u2019s headed and are obviously more costly.  \n\nOn the flip-side, a few grand for an appraisal is nothing if the offer in-hand is, say, $100k less than market.  I also never sell without a broker representing me, save for one time when the offer was wildly \u201cover market.\u201d\n\nGood luck.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]