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Mae broker price opinion form

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The document is a Residential Broker Price Opinion (BPO) for a property located at 9652 South Avenue N, prepared for Fannie Mae. It provides an analysis of the current market conditions, including employment status and property values in the neighborhood, which are described as depressed and declining. The report outlines the subject property's marketability, estimated occupancy rates, comparable listings, and necessary repairs to improve its condition. It concludes with a suggested list price based on comparative sales data and highlights concerns regarding nearby abandoned properties affecting buyer perception.

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Click ‘Get Form’ to open the BPO form in the editor.
Begin by entering the REO number and loan number at the top of the form. This information is crucial for identification.
Fill in the property address, unit number, and date. Ensure accuracy as this data is essential for processing.
In the 'General Market Conditions' section, select options that best describe current market conditions, employment status, and occupancy rates.
Provide details about subject marketability including price range and financing availability. Use dropdowns or checkboxes where applicable.
Complete the 'Repairs' section by itemizing necessary repairs and their estimated costs. This helps in assessing property value.
Review all entries for accuracy before saving your work. Utilize our platform’s features to make any necessary adjustments easily.

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Versions	Form popularity	Fillable & printable
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What does a BPO stand for in real estate?

A broker price opinion (BPO) is the estimated value of a property as determined by a real estate broker or other qualified individual or firm.

Is a BPO better than an appraisal?

In most cases, an appraisal is a better option. Yes, appraisals are more expensive, but they are also more accurate and in-depth, and are often required by the lender. A BPO might make sense, if youre selling your home through a short sale. BPOs take less time and cost less.

What is BPO in real estate example?

A broker price opinion (BPO) is a real estate professionals dollar estimate of a propertys worth. It is an opinion, but one often backed up by the selling prices of comparable homes in comparable neighborhoods.

How much does a BPO cost in real estate?

Cost: Broker price opinions are also less expensive than the cost of an appraisal. An appraisal can run anywhere from $300 to 800 or more, and a BPO costs half that and sometimes even less, roughly $50 or so, ing to Andrews.

What is a BPO used for?

A broker price opinion (BPO) is a real estate professionals official estimate of a propertys value. BPOs may be helpful when buying or selling a home. Buyers can use the BPO to help find out whether theyre getting a good deal. Additionally, the service may help sellers market their homes with an accurate price.

fannie mae broker price opinion form

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How to write a broker price opinion letter?

The letter should include the following information: The address of the property The date of the opinion The legal description of the property The property type An explanation of the market conditions An estimate of the propertys current market value An explanation of the methodology used to arrive at