Percentage Of BPO?

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What percentage of the BPO or appraised value are the lenders taking?



I understand that each situation is somewhat unique due to different variables however what type of discounts are folks obtaining?.



Is the percentage off the sales price or does that have to be the net to the lender.



Example, if it is 15% of the BPO, is it:



200K BPO

Sales price 170K and then the lender pays any closing costs, commissions, delinquent taxes, etc, so the net is obviously less than 170K, perhaps 155K



or is it



200K BPO

The bank must “net” 170K and any closing costs, commissions, delinquent taxes, etc are added on top, so the sales price might be 188K



??????



Thanks in advance for input.

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