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Get fannie mae broker price opinion form 2009-2024
REPRESENTATIVE: KATHY SCOTT CLIENT NAME Fannie Mae CONTACT NAME TIMOTHY COMPLETED BY. TIMOTHY BLOMQUIST PHONE NO. 3122919151 FAX NO. EMAIL ADDR: TIMOTHYREO GMAIL.COM CHICAGO FIRM NAME: IL 60617 KEY REALTY, INC. 3128548797 I. GENERAL MARKET CONDITIONS Current market conditions: Employment conditions: Market price of this type property has: Depressed Declining Decreased Increased Remained Stable. Slow Stable % in past % in past BLOMQUIST Stable Improving months.
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Leasehold FAQ
The two main differences between appraisals and BPOs involve time and cost. Home appraisals are conducted by trained experts, while BPOs are done by agents or brokers. The appraisal accuracy will be much higher because appraisers must meet certain educational guidelines and benchmarks.
When a real estate broker or other qualified professional determines a property's estimated value, it's considered a broker price opinion. A BPO is used as part of the listing agreement when selling a house. A lender, loss mitigation company or mortgage company that wants an assessment of a property can request a BPO.
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.
It relies on the broker's knowledge, the quality of comparable sales data and market conditions. While useful for estimates, BPOs are generally less accurate than formal appraisals, which are conducted by certified appraisers and adhere to strict guidelines.
Who generally writes a broker's price opinion? BPOs are generally compiled by a real estate broker in order to give a lender an approximation of market price.
A broker price opinion (BPO) is a real estate professional's official estimate of a property's value. BPOs may be helpful when buying or selling a home. Buyers can use the BPO to help find out whether they're getting a good deal.
A broker price opinion can be requested by a lender who wants an assessment of a property for such needs as the refinancing of a mortgage or a foreclosure. The owner of a property could also seek such an opinion if they are looking to make changes either through a sale or a refinancing of their mortgage.
A broker price opinion, or BPO, is an estimate of a property's value conducted by a real estate broker, agent or qualified realty firm. The real estate professional will consider comparable homes, the home's age, the size of the property, zoning requirement and the property's condition to determine the BPO.
Fha Related content
GAO-11-653, Residential Appraisals
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