Get the free Broker's Price Opinion - Form 201
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Comprehensive broker\'s price opinion detailing market analysis, repair estimates, and property characteristics for a duplex in Paramount, CA.
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What is brokers price opinion?
A broker's price opinion (BPO) is a report prepared by a real estate broker that provides an estimate of a property's value based on comparable sales, market conditions, and other relevant factors.
Who is required to file brokers price opinion?
Typically, licensed real estate brokers or agents are required to prepare and file a broker's price opinion when requested by lenders, clients, or real estate services companies.
How to fill out brokers price opinion?
To fill out a broker's price opinion, the broker should gather information on the property, analyze comparable sales data, and provide an estimated value along with a rationale for that figure, all documented in a standardized BPO form.
What is the purpose of brokers price opinion?
The purpose of a broker's price opinion is to provide an unbiased estimate of a property's market value, helping lenders to make informed decisions regarding loans, short sales, and property management.
What information must be reported on brokers price opinion?
A broker's price opinion must report information such as property details (e.g., address, type), condition, neighborhood analysis, comparable sales, and the estimated value with supporting analysis.
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