Drive by bpo form 2025

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The document is a Drive-by BPO (Broker Price Opinion) form used to assess the value of a property. It includes sections for general conditions, sales and listing history, neighborhood and market data, current listings, recent sales, marketing strategy, repair estimates, and property images. The form aims to provide a comprehensive evaluation of the property's condition, market position, and potential pricing strategies.

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Click ‘Get Form’ to open the drive by BPO form in the editor.
Begin by filling in the Borrower Name, Inspection Date, and Property ID. Ensure accuracy as these details are crucial for identification.
In Section I, provide information about General Conditions including Property Type, Occupancy, and Property Condition. Use the comments field for any additional notes.
Move to Section II to document Subject Sales & Listing History. Fill in Current Listing Status, List Price, and Sale Price along with relevant dates.
In Section III, assess Neighborhood & Market Data. Input details like Location Type and Sales Price range while providing insights on local market conditions.
Continue to Sections IV and V for Current Listings and Recent Sales respectively. Enter all required data points such as Street Address, List Price, and Sale Price.
Finally, review your entries for accuracy before saving or sharing the completed form using our platform’s export features.

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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.

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 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.

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.

What is a drive by BPO?

When performing a. drive by BPO, the licensee drives in front of the property and inspects the property from the. road, takes one or more photos of the property, fills out a BPO form provided by client, returns. the form to the client, and receives a fee for their services. ( REMINDER: All compensation.