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This Broker Price Opinion assesses the property at 4510 Guidhall Court, Westlake Village, CA, estimating a sales price of $1,300,000 based on comparable properties.

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What is broker price opinion?

A broker price opinion (BPO) is a report prepared by a real estate broker that provides an estimated value of a property based on comparable sales, market trends, and the broker's knowledge of the local real estate market.

Who is required to file broker price opinion?

Typically, real estate brokers or agents who are licensed in their respective state are required to prepare and file broker price opinions as part of their services to clients, particularly for lenders and financial institutions.

How to fill out broker price opinion?

To fill out a broker price opinion, a broker should gather relevant property data, including the property's condition, features, and location, as well as comparable properties in the area. The broker then evaluates this information and provides an estimated price in the BPO form, usually accompanied by supporting data and a comparison analysis.

What is the purpose of broker price opinion?

The purpose of a broker price opinion is to provide an estimated market value for a property to assist lenders in making decisions regarding loans, foreclosures, and short sales, as well as to help sellers and buyers understand the property's worth.

What information must be reported on broker price opinion?

A broker price opinion must typically include the property address, a description of the property, the analysis of comparable sales and properties, market conditions, and the broker's estimated value of the property.

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