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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
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Comments and Help with broker s price opinion real estate bpo

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.

Video instructions and help with filling out and completing bpo form
Instructions and Help about blank bpo form
Hello everyone I'd like to thank you for joining us for the broker price opinion BPO training session for the short sale specialist network training program here this is Mike Lincoln auger with First Coast Realty Associates and the short sale specialist network I have Ethan joining me is the in Gregory with First Coast Realty Associates I do a lot of processing here first ability associates for all of our short sales as well as a number of the EPP OHS for different companies and then I have some experience as well myself and doing some BPOs so that's just you know the main thing that this session is going to be on here is discussing different kinds of property valuations for distressed properties and what you can expect through the process now let's start it out first off we're going to talk about some of the forms that you're going to see on on the site right there now we have a couple different kinds of editable you know fully editable personalized BPO forms now there's two different forms here you can use these and put your own logos on them you can put your own information and they are fully editable generic forms so we have two different ones of those next we also have there's a good dozen or so lender specific forms BPO forms there that will also some of them will also have lender specific guidelines on what they ask out of their BPA's as well so those are some of the forms that you're going to have there right in front of you on the site there so first let's start off about talk you know just talking about why agents should be doing broker price opinion see even sure a little bit about that yeah first and foremost is ad short sales here doing a BPO is paramount obviously you're doing evaluation when you go out to the property for the first time and list it and looking at whatever value you think is fair but once you get that offer is a good idea when you submit your full short sale package to have the BPO that justifies that offer now and that's what we're teaching this course sure because if you're able to send this to Fatman trailer at least you're getting your your voice in there of what you think the value is absolutely and that's really the main thing with the short sale packages you're going to state the case you're going to be stating your homeowners case that look your sellers into hardship here's all the documents to back it up and here's a reasonable offer mark you know current as is market value offer to purchase along with a broker price opinion justifying that offer so like Ethan just said you're really just stating the case so this is just one thing that will help you know complete a short sale package here and I'll tell you this much right now - this is one thing that a majority of agents leave off of short sale packages but is very important because there are some lenders out there that will just flat-out approve a short sale without doing their own valuation it happens it does happen and doing these BPO and submitting...
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