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  • Agent2agent: Bpo (broker Price Opinion), On Exteriors Do You Get...

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Agency Address: City/State/Zip Agent Phone # Fax # Phone # Fax # Broker/ Director Name: E-mail Typical Commission If Listed, Current Listing Company : Last sale date of subject List to Sale Price Ratio for area: % % Last sale price of subject Is the subject property occupied: Is the property secure: If yes, who is occupying: If not, what needs to be done to secure the property: Is the property being maintained, ie; grass cut, snow removal? Are there any immediate repair needs to pres.

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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 BPO can be completed more quickly than an appraisal. BPOs usually cost less than appraisals. BPOs can be used in place of appraisals for borrower-initiated PMI cancellation requests, foreclosures, mortgage releases and short sales.

The key difference between a BPO and an appraisal is that an appraisal completes the service and their obligation under the Uniform Standards of Professional Appraisal Practice (USPAP) and law. A BPO is typically completed by a real estate broker or agent and is not required to conform to USPAP or state appraisal law.

Pictures. They usually want a certain amount of interior and exterior pictures. ... Subject Property. You wil have to provide all the details of the subject property in your BPO report. ... Sold Comparables. ... Active Comparables. ... Price.

If you are getting paid $50 a BPO and it takes you two hours to complete, it may not be worth your time, because you have to drive to the property and inspect it as well. If you can complete the report in 30 minutes or less and you are getting a lot of orders, you can make a good living completing BPOs.

Real estate brokers are given an order to do a BPO by the lender, mortgage company, or loss mitigation company. ... Some real estate agents who are barely hanging on, though, are happy to make $75 to $150 or so to go out and fill out the lenders' form for valuation of a property.

How much a BPO costs and how to order one. BPOs are often cheaper than formal real estate appraisals and cost anywhere from $80 to $150 depending on the turnaround time, the type of BPO, and the location of the asset.

Typical reasons for ordering a broker price opinion include estimating value prior to purchase or sale, understanding collateral value when securing a new loan or refinancing, estimating liquidation value, buying out a partner's interest in a property, among many others.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232