The Broker Price Opinion (BPO) form is a valuable tool used by real estate professionals to estimate the market value of a property. It provides a comprehensive analysis of various factors, including current market conditions, comparable sales, and property specifics. By utilizing this form, brokers can offer informed opinions to lenders and clients regarding property pricing and marketability.
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RESIDENTIAL BROKER PRICE OPINION
Loan #
REO #:This BPO is the
PROPERTY ADDRESS:
FIRM NAME:
PHONE NO.
Initial
2nd Opinion
Updated Exterior Only
DATE
SALES REPRESENTATIVE:
BORROWER’S NAME:
COMPLETED BY:
FAX NO.
I.GENERAL MARKET CONDITIONS
Current market condition:
Depressed
Slow
Stable
Improving
Employment conditions:
Declining
Increasing
Market price of this type property has:
Decreased
%
in past
months
Increased
Remained stable
Estimated percentages of owner vs. tenants in neighborhood:
% owner occupant
There is a
Normal supply
oversupply
shortage of comparable listings in the neighborhood
Approximate number of comparable units for sale in neighborhood:
No. of competing listings in neighborhood that are REO or Corporate owned:
No. of boarded or blocked-up homes:
Excellent
% tenant
II.SUBJECT MARKETABILITY
Range of values in the neighborhood is $
to $
The subject is an
over improvement
under improvement
Appropriate improvement for the neighborhood.
Normal marketing time in the area is:
days.
Are all types of financing available for the property?
Yes
No
If no, explain
Has the property been on the market in the last 12 months?
If yes, $
list price (include MLS printout)
To the best of your knowledge, why did it not sell?
Unit Type:
single family detached
condo
co-op
mobile home
single family attached
townhouse
modular
If condo or other association exists: Fee $
monthly
annually Current?
Fee delinquent? $
The fee includes:
Association Contact:
Insurance
Name:
Landscape
Pool
Tennis
Other
Phone No.:
III. COMPETITIVE CLOSED SALES
ITEM
SUBJECT
COMPARABLE NUMBER 1
COMPARABLE NUMBER 2
COMPARABLE NUMBER 3
Address
Proximity to Subject
REO/Corp
Sale Price
$
Price/Gross Living Area
Sq. Ft.
Sq. Ft..
Sq.
Ft.
Sale Date &
Days on Market
VALUE ADJUSTMENTS
DESCRIPTION
+(-) Adjustment
Sales or Financing
Concessions
Location (City/Rural)
Leasehold/Fee Simple
Lot Size
View
Design and Appeal
Quality of Construction
Year Built
Condition
Total
Bdms
Baths
Above Grade
Room Count
Gross Living Area
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porches, Patio, Deck
Fireplace(s), etc.
Fence, Pool, etc.
Net Adj. (total)
+
-
Adjusted Sales Price of
Comparable
Fannie Mae Revised 03/99
Page 1 of 2
REO#
IV. MARKETING STRATEGY
As-is
Minimal Lender Required Repairs
V. REPAIRS
Occupancy Status: Occupied
Repaired Most Likely Buyer:
Vacant Unknown
Owner occupant Investor
Itemize ALL repairs needed to bring property from its present “as is” condition to average marketable condition for the neighborhood. Check those repairs you recommend that we perform for most successful marketing of the property.
GRAND TOTAL FOR ALL REPAIRS $
VI. COMPETITIVE LISTINGS
COMPARABLE NUMBER. 2
COMPARABLE NUMBER. 3
List Price
Sq.Ft.
Data and/or
Verification Sources
+ (-)Adjustment
+(-)Adjustment
Days on Market and
Date on Market
Leasehold/Fee
Simple
Adjusted Sales Price
of Comparable
VI. THE MARKET VALUE (The value must fall within the indicated value of the Competitive Closed Sales).
Market Value
Suggested List Price
AS IS REPAIRED
30 Quick Sale Value
Last Sale of Subject, Price
Date
COMMENTS (Include specific positives/negatives, special concerns, encroachments, easements, water rights, environmental concerns, flood zones, etc. Attach addendum if additional space is needed.)
Signature:
Date:
Page 2 of 2
CMS Publishing Company 1 800 235-1600 [0399]
The Broker Price Opinion (BPO) form is a vital document used in real estate transactions, particularly for evaluating property values. However, it is often accompanied by various other forms and documents that provide additional information and context. Below is a list of other commonly used documents that complement the BPO.
Each of these documents plays a crucial role in the real estate process, providing essential information that helps buyers, sellers, and agents make informed decisions. Understanding these forms can facilitate smoother transactions and minimize potential disputes.