Bought two NPN firsts in Georgia back in February and I'm still waiting on a BPO that should have taken three weeks
Both are residential, one in Macon and one just outside Savannah. The Savannah one has a UPB of $94k, I picked it up for $31k. Macon is $67k UPB, paid $19k. Neither borrower has responded to anything. The BPO vendor the servicer uses went out to the Macon property twice and came back with nothing usable, bad photos, no interior, comp pulls from a zip code that isn't even adjacent. I pushed back and now I'm stuck in a loop where the servicer says they're reordering and the vendor says they never got the reorder. It's week eleven. Georgia is judicial so I can't even think about filing until I have a servicer-certified payment history and a clean BPO in the file, and right now I have neither. The Savannah property I'm less worried about because the ARV is probably $110k and even a conservative BPO gets me where I need to be. Macon is the one keeping me up because the neighborhood comps are thin and I genuinely do not know if the collateral supports the number I paid. I modeled it at $58k ARV to be safe but if it comes in at $49k or below I overpaid and the foreclosure path doesn't work anymore. So I'm just sitting here with $50k deployed and no clear timeline, waiting on a vendor who isn't answering the servicer who isn't answering me.