Get the free broker price opinion

Freddie Mac Exterior /Curb Side Interior Access Denied BPO Firm Name BROKER'S PRICE OPINION Freddie Mac Loan # Service Loan # BPO # Phone Inspection Date Reason Broker SUBJECT PROPERTY DESCRIPTION

How to fill out broker opinion template download form

How to fill out Freddie Mac 1092

1. Obtain a copy of the Freddie Mac Form 1092.
2. Begin with the Header section: Fill in your company name, address, and other identifiers.
3. Enter the borrower information, including the borrower's name, address, and social security number.
4. Provide details about the loan origination, including loan number, date of loan origination, and loan type.
5. Complete the income details: report the borrower's income as per the guidelines.
6. Fill in the mortgage information: include the mortgage amount, interest rate, and loan term.
7. Review all information for accuracy and completeness.
8. Sign and date the form if required.
9. Submit the completed Form 1092 to Freddie Mac by the specified deadline.

Who needs Freddie Mac 1092?

1. Lenders who originate loans that are sold to Freddie Mac.
2. Borrowers who need to report their loan details for compliance purposes.
3. Mortgage servicers who manage loans on behalf of Freddie Mac.

• Who needs a Broker's Price Opinion form?
• What is Broker's Price Opinion form for?
• Is Broker's Price Opinion form accompanied by other forms?
• • When is Broker's Price Opinion form due?
  • How do I fill out Broker's Price Opinion form?
  • Where do I send Broker's Price Opinion form?

Who needs a Broker's Price Opinion form?

Any person interested in selling or buying real estate can order evaluation of property of their interest. This assessment is carried out by the appraiser using the BPO form. Also, this real estate appraisal could be performed for transactions related to obtaining credit or changing its conditions.

What is Broker's Price Opinion form for?

This form gives the idea of the overall condition of the property and its value. All the types of repairs that must be done are taken into account. Also, the interior BPO form contains reviews of a competing property and several deals closed in the area. This information allows estimation not only of the property itself, but also of the overall situation in the real estate market in the area.

Is Broker's Price Opinion form accompanied by other forms?

The Drive-by BPO form in not accompanied by any other forms.

When is Broker's Price Opinion form due?

Expiration term of this evaluation — six months. In case of such a long period, you have to consider that the assessment may not reflect the actual state of the object.

How do I fill out Broker's Price Opinion form?

This fillable BPO template contains the following points to be filled out:

• Subject property description;
• Estimate of repairs needed for subject property;
• Neighborhood review;
• Value Estimation;
• Competitive listing and closed sales.

Where do I send Broker's Price Opinion form?

Completed Broker’s Opinion should be directed to the property owner.

People Also Ask about broker opinion of value template

How does a BPO differ from an appraisal?

The two main differences between appraisals and BPOs involve time and cost. 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.

How accurate are BPOs?

BPO versus Appraisal. Studies have shown BPOs are just as accurate as appraisals. BPOs are less expensive and take significantly less time to get.

For what reason is a broker price opinion most often requested?

A broker pricing opinion has been most commonly used when there are more short sales and foreclosures. Missed mortgage payments will trigger the request. When borrowers fall behind on their mortgage, a lender will request a broker price opinion to understand the present value quickly.

How accurate is a broker price opinion?

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.

Who writes a brokers price opinion?

A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.

What does a broker price opinion include?

A broker price opinion (BPO) is an unofficial assessment of a property's potential market value based on expert judgment. A BPO is often based off of qualitative and subjective factors such as neighborhood characteristics, curb appeal, and if the market is 'hot' or not.

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What is Freddie Mac 1092?

Freddie Mac 1092 is a tax form used to report certain mortgage-related information to the Internal Revenue Service (IRS) in the United States.

Who is required to file Freddie Mac 1092?

Entities that purchase or securitize mortgages through Freddie Mac are required to file Freddie Mac 1092.

How to fill out Freddie Mac 1092?

To fill out Freddie Mac 1092, gather the required mortgage data, complete the form according to IRS instructions, and submit it by the applicable due date.

What is the purpose of Freddie Mac 1092?

The purpose of Freddie Mac 1092 is to provide the IRS with information about mortgages that are included in Freddie Mac's securitization process for tax reporting.

What information must be reported on Freddie Mac 1092?

Information that must be reported on Freddie Mac 1092 includes details about the borrower, loan amount, loan type, and other relevant mortgage characteristics.