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Broker Price Opinion On Single Family Residence free printable template
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BROKER PRICE OPINION On Single Family Residence At Address City State Zip PREPARED FOR Person ordering report Company PREPARED BY Agent Brokerage Firm DATE OF REPORT Date Property Type Property Address Tax ID Property Owner Client Real Property Interests Fee Simple Type of Value Market Value Liquidation Value Intended Use List Sell Collateral Evaluation etc Lender Buyer Seller Subject History Optional Marketing Time Current Property Use Highest and Best Use Site Description Size Location...Utilities Zoning Other Acres or SF Neighborhood or Subdivision Sewer / Septic Water/Well View amenities common area amenities etc Improvement Description Building Size Parking Design Quality Condition Comments Main Floor BR / Baths Basement BR / Baths Finish Out Building Garage/Carport/Size or Cars 1 Story 2 Story Etc. Type and rating Overall rating Describe problems or remodeling Conclusions Date of Report Date Inspected Date State type of inspection interior exterior or no inspection...performed. DISCLAIMER This is NOT an appraisal and should not be relied upon anyone other than stated as a client or and intended user identified by name or type as describe in this report. CERTIFICATION OF THE APPRAISER I certify to the best of my knowledge and belief 1. The statements of fact contained in this report are true and correct. 2. The reported analyses opinions and conclusions are limited only by the reported assumptions and limiting conditions and are our personal impartial and...unbiased professional analyses opinions and conclusions. report any present or contemplated interest including the possibility of representing the seller/landlord or buyers/tenants 3. I have no present or prospective interest in or bias with respect to the property that is the subject of this report and have no personal interest in or bias with respect to the parties involved with this assignment. State any interest such as fee obtained for listing or selling the property 4. My engagement in...this assignment was not contingent upon developing or reporting predetermined results. 5. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client the amount of the value opinion the attainment of a stipulated result or the occurrence of a subsequent event directly related to the intended use of this appraisal* 6. This assignment was not based upon a requested minimum...valuation a specific valuation or the approval of a loan* Assignment conditions should be disclosed 7. The signer of this report has Has Not made a personal inspection of the property 8 Opinions expressed in this report are NOT an appraisal and should not be relied upon as an appraisal* Name License / Expiration Date Scope of Work 1. Subject property was was not inspected by the signer of this report. Subject and comparable data is obtained from sources assumed to be reliable such as MLS and...public records. 2. The subject property is analyzed by use of a qualitative sales comparison approach the income capitalization approach and the cost approach are necessary for credible results.
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Understanding the Broker Price Opinion on Form
Definition and Purpose
A broker price opinion on form is a document prepared by a licensed real estate professional, offering an estimated value of a property based on a variety of factors. It is commonly used during real estate transactions to provide a valuation without going through the more formal, and often more expensive, process of a full appraisal. This document is essential for lenders, sellers, and buyers who need a reliable estimate of property value.
Key Features of the Form
The broker price opinion on form includes several important components that ensure clarity and purpose. These features typically encompass:
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Details including the property's address, tax ID, and current ownership status.
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An evaluation of the local market conditions and comparable property sales.
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Assessment of the property value, typically expressed as market value or liquidation value.
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Clarification on who can utilize the report and for what purposes, such as financing or sale.
How to Effectively Complete the Form
Filling out the broker price opinion on form requires careful attention to detail. Here are the essential steps:
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Collect details about the property, including its size, condition, and location.
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Analyze recent sales in the area to better understand the local market dynamics.
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Enter accurate property value estimates based on findings from your research.
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Double-check all entries for consistency and correctness before finalizing the form.
Common Errors to Avoid
When completing the broker price opinion on form, certain mistakes can hinder its effectiveness. It’s important to be aware of and avoid these common errors:
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Leaving out key property details can lead to inaccurate valuations.
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Failing to consider current market trends can skew the property's estimated value.
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Relying on outdated or non-comparable properties for valuation can mislead conclusions.
Understanding Intended Users
The broker price opinion on form serves various stakeholders within the real estate industry. Intended users often include:
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Financial institutions that require an accurate property valuation for mortgage approvals.
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Individuals looking to make informed decisions regarding property purchases or sales.
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Professionals who need reliable assessments to aid clients in their transactions.
State-Specific Regulations
Different states may have specific requirements and regulations regarding the broker price opinion on form. It is crucial for users in the United States to familiarize themselves with these guidelines to ensure compliance and applicability.
Frequently Asked Questions about By Integrating Pdffiller With
What is a broker price opinion?
A broker price opinion is an estimated valuation of a property's market value, prepared by a licensed real estate broker.
How is this form different from an appraisal?
Unlike a formal appraisal, a broker price opinion is generally less formal and is often completed more quickly and at a lower cost.
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People Also Ask about
Who may provide a broker opinion of value or BPO?
To determine the BPO, a real estate agent or broker will use their expertise to assign a dollar amount to a property based on certain factors. BPOs are normally performed by a broker who is familiar with the local housing market.
What is the difference between a broker's opinion of value and an appraisal?
While similar in several ways, a broker opinion of value (or “BOV”) is a much different process than an appraisal. A BOV is conducted at the request of the property owner, and on a more informal basis than an appraisal requires. As the name implies, any evaluation is strictly the opinion of the broker conducting it.
What is an example of a broker's opinion?
Broker's Opinion of Value Examples include determining a listing price for selling a home, establishing the value of a home for an estate or other legal matters, and determining the current value of a home for insurance purposes.
What does a broker opinion of value look like?
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.
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.
Who orders a broker price opinion?
A broker price opinion can be requested by a lender who wants an assessment of a property for such needs as the refinancing of a mortgage or a foreclosure. The owner of a property could also seek such an opinion if they are looking to make changes either through a sale or a refinancing of their mortgage.
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