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BPO Adjustments GLA Adjustments $20 ×30 Low to Medium Bracket Homes $30 ×50 Medium to Higher Bracket Homes $50 ×100 Higher Bracket HomesGarage / Carport $6,000 2-Car Garage $3,000 1 Car Garage
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How to fill out bpo adjustments
01
BPO adjustments are typically filled out by real estate professionals who are conducting broker price opinions (BPOs).
02
BPOs are often requested by lenders or mortgage companies to determine the value of a property for various purposes such as loan modifications, short sales, or foreclosure proceedings.
03
To fill out BPO adjustments, start by gathering relevant data and information about the property, including its location, size, and condition.
04
The next step is to compare the subject property with comparable properties in the area. Look for properties that are similar in terms of size, age, condition, and location.
05
Assess the differences between the subject property and the comparable properties. This can include factors such as amenities, upgrades, or any unique characteristics that may affect the value.
06
Assign a specific adjustment value for each difference identified. This adjustment value should be based on market research and professional judgment.
07
Calculate the total adjustments for each comparable property by adding up all the individual adjustment values.
08
Apply the adjustments to the subject property by adding or subtracting the total adjustments from the comparable properties' values.
09
Finally, provide a clear and concise explanation for each adjustment made, outlining the rationale behind the adjustment and supporting it with relevant market data or evidence.
10
It is important to fill out BPO adjustments accurately and objectively, as they play a crucial role in determining the fair market value of the subject property.
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What is bpo adjustments?
BPO adjustments are changes made to the assessed value of a property based on a Broker Price Opinion.
Who is required to file bpo adjustments?
Property owners or their representatives are required to file BPO adjustments.
How to fill out bpo adjustments?
BPO adjustments can be filled out by providing detailed information about the property and the reasons for the adjustment.
What is the purpose of bpo adjustments?
The purpose of bpo adjustments is to ensure that the assessed value of a property accurately reflects its market value.
What information must be reported on bpo adjustments?
Information such as property details, market trends, and justification for the adjustment must be reported on BPO adjustments.
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