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  • Broker Price Opinion Sample 2020

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How to fill out the Broker Price Opinion Sample online

Filling out the Broker Price Opinion Sample is essential for providing a comprehensive valuation of a property. This guide will walk you through each section of the form, ensuring a smooth online experience.

Follow the steps to accurately complete the Broker Price Opinion Sample

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin by entering the client loan number at the top of the form. This number is crucial for identifying the specific loan associated with the property in question.
  3. In the inspection type section, specify the type of inspection being conducted. Options may include drive-by, interior, or tenant-occupied inspections.
  4. Fill in the property address, including the city, state, and zip code to ensure accurate location verification.
  5. Provide information regarding the occupancy of the property, indicating whether it is owner-occupied or rented by a tenant.
  6. Next, complete the general market conditions section. Choose the appropriate options that reflect the current state of the market, such as depressed or stable.
  7. Indicate the range of property values in the neighborhood, ensuring to include lower and upper limits.
  8. Fill out the competitive closed sales section, providing details about comparable properties nearby and their sales prices.
  9. Complete the repairs section by itemizing necessary repairs, including cost estimates for each item required to bring the property to market condition.
  10. Once you have filled out all sections, review your entries carefully to ensure accuracy before finalizing.
  11. Finally, you can save your changes, download the completed form, print it for physical records, or share it with relevant parties.

Start completing your Broker Price Opinion Sample online today for efficient property evaluation.

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Questions & Answers

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To obtain BPOs, network with real estate agents, mortgage companies, and banks that require these valuations regularly. Consider building relationships with property management firms that may need BPOs for their portfolios. Additionally, leveraging the US Legal Forms platform can help streamline the process by providing compliant templates for BPO requests.

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.

To remove your PMI You'll need to get a home valuation report, such as a BPO, to prove your home value has risen enough to remove PMI. Combined with your loan balance, the BPO valuation proves your 20% equity position.

A broker's price opinion provides an estimate of price. They can be provided by a licensed broker or sales agent. A broker's price opinion is not an opinion of market value. Unlike appraisals and evaluations, a broker's price opinion is not subject to development standards.

Similar to a home appraisal, a broker price opinion helps establish what your home is worth. But a broker opinion of value is considered less accurate than an appraisal and may not be allowed to substitute for an appraisal.

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. They also take continuing education courses in valuation. BPOs are less expensive to order than appraisals.

A broker opinion of value (BOV), sometimes referred to as a broker's price opinion (BPO), is an assessment of a commercial property's value by a commercial real estate broker. Often, the opinion of value is used as a way to earn a property owner's business and it is done free of charge.

While typically used in the listing agreement a homeseller signs with an agent, BPOs can also be employed in valuing an estate or financial assets, or by homeowners thinking of refinancing their mortgages or wanting to get their private mortgage insurance premiums lifted.

A broker price opinion (BPO for short), is a real estate professional's estimate of a property's value. It is an opinion, but one often backed up by the selling prices of comparable homes in comparable neighborhoods.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
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
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
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 WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
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