Free Broker Price Opinion Form in PDF

• Comparative Market Analysis (CMA): Like the Broker Price Opinion (BPO), a CMA evaluates the market value of a property by comparing it to similar properties that have recently sold. Both documents analyze factors such as location, condition, and market trends, providing insights for pricing a property accurately.

• Trader Joe's Application Insight: Understanding the Trader Joe's application form is crucial for prospective employees. This document allows candidates to showcase their qualifications and experiences effectively. For more details, visit https://topformsonline.com.

• Appraisal Report: An appraisal report is a formal assessment of a property's value, conducted by a licensed appraiser. Similar to a BPO, it considers comparable sales and market conditions. However, an appraisal is often more detailed and follows specific regulatory guidelines.

• Real Estate Listing Agreement: This document outlines the terms between a seller and a broker for marketing a property. While a BPO provides a value estimate, a listing agreement formalizes the relationship and includes pricing strategies based on the BPO's findings.

• Property Condition Report: This report assesses the physical condition of a property, noting repairs and improvements needed. While the BPO focuses on market value, the property condition report complements it by detailing the aspects that might affect the property's saleability.

• Understand the purpose of the Broker Price Opinion (BPO) form. It serves to estimate the market value of a property based on various factors.

• Complete all sections thoroughly. Missing information can lead to inaccuracies in the valuation.

• Pay attention to market conditions. Indicate whether the market is depressed, stable, or improving, as this influences pricing.

• Assess the property’s marketability. Note whether it is over-improved, under-improved, or appropriately improved for the neighborhood.

• Gather comparable sales data. List at least three comparable properties to support your valuation.

• Adjust values based on differences. Use the value adjustments section to account for any variances between the subject property and comparables.

• Document any necessary repairs. Clearly itemize repairs needed to make the property marketable.

• Evaluate the competitive listings. Include current listings in the area to understand the market landscape.

• Determine the suggested list price. This should reflect both the as-is condition and any repairs needed.

• Include comments about the property. Mention any unique features or concerns that may affect its value.

Instructions on How to Fill Out Broker Price Opinion

Filling out a Broker Price Opinion (BPO) form requires attention to detail and accuracy. This form is essential for assessing the value of a property based on various market factors and comparable sales. Follow these steps to ensure that you complete the form correctly and efficiently.

1. Begin with the top section. Fill in the Loan #, REO #, and the PROPERTY ADDRESS.
2. Provide your FIRM NAME and PHONE NO.. Indicate if this is an Initial, 2nd Opinion, or Updated BPO.
3. Enter the DATE and the name of the SALES REPRESENTATIVE.
4. Complete the BORROWER’S NAME and COMPLETED BY sections. Include your FAX NO. if applicable.

Next, move on to the GENERAL MARKET CONDITIONS section. Here, you will assess the current market environment.

5. Evaluate the Current market condition and select from options: Depressed, Slow, Stable, or Improving.
6. Assess Employment conditions: Declining, Stable, or Increasing.
7. Indicate the market price trend for this type of property: Decreased, Increased, or Remained stable.
8. Estimate the percentage of owner vs. tenants in the neighborhood.
9. Determine if there is a normal supply, oversupply, or shortage of comparable listings in the neighborhood.
10. Count the approximate number of comparable units for sale in the neighborhood.
11. Identify the number of competing listings that are REO or Corporate owned.
12. Note the number of boarded or blocked-up homes in the area.

Now, assess the SUBJECT MARKETABILITY of the property.

13. Provide the range of values in the neighborhood.
14. Indicate whether the subject property is an over improvement, under improvement, or has appropriate improvement for the neighborhood.
15. Estimate the normal marketing time in the area.
16. Specify if all types of financing are available for the property. If not, explain.
17. Indicate whether the property has been on the market in the last 12 months. If yes, include the list price.
18. Identify the Unit Type (e.g., single family detached, condo, etc.).
19. If applicable, provide details about the association fee and its current status.

Proceed to the COMPETITIVE CLOSED SALES section to compare the subject property with similar properties.

20. List the Address, Proximity to Subject, and whether each comparable is REO/Corp.
21. Fill in the Sale Price and Price/Gross Living Area for each comparable.
22. Record the Sale Date and Days on Market.
23. Make VALUE ADJUSTMENTS for each comparable based on various factors such as location, condition, and amenities.

Continue with the MARKETING STRATEGY and REPAIRS sections.

25. Select the appropriate Marketing Strategy (e.g., As-is, Minimal Repairs).
26. Note the Occupancy Status of the property.
27. Identify the Most Likely Buyer.
28. Itemize all necessary repairs to bring the property to average marketable condition.
29. Calculate the GRAND TOTAL FOR ALL REPAIRS.

Next, fill out the COMPETITIVE LISTINGS section.

30. List the Address, Proximity to Subject, and whether each comparable is REO/Corp.
31. Fill in the List Price and Price/Gross Living Area for each comparable.
32. Make VALUE ADJUSTMENTS similar to the previous section.

Finally, determine the MARKET VALUE and provide any additional comments.

35. State the Market Value and Suggested List Price for both AS IS and REPAIRED conditions.
36. Include the Quick Sale Value and details of the last sale of the subject property.
37. Provide COMMENTS regarding any specific positives, negatives, or concerns.
38. Sign and date the form at the bottom.

With these steps, you can complete the Broker Price Opinion form accurately, ensuring a thorough assessment of the property in question.