Users of Broker Price Opinion (BPO) Reports: Are you a For Sale by Owner interested in comparables and suggested list price? Are you an asset manager of distressed properties looking for BPOs at discount prices? Are you an investor wanting to know the extent of repairs needed to rehab a property? Are you a short sale owner interested in comparables and suggested list price? Are you a prospective buyer wanting to know price to offer for purchase of a home?
Exterior BPO is most popular and standard product for only $75. It includes exterior photos, local market conditions, comparables, and price opinion. Interior BPO includes all Exterior BPO items plus interior photos and repair review of deferred maintenance items for only $125. Desktop BPOincludes comparables and an AVM value estimate for only $30.
Residential Evaluation for federally regulated lending institutions, Exterior for only $95.
Broker Price Opinion (BPO) report provides an opinion of most probable price which the subject property should bring in a competitive and open market under all conditions requisite to a fair sale including reasonable marketing time (normally 90-120 days). Details included in the BPO report provide information on subject's neighborhood, prevailing market conditions, and three listings and three sales of properties that are similar and comparable to subject property. If marketing extends beyond 90 days another BPO is recommended.
Broker Price Opinion (BPO) report provides market value of a property, it is a prospective market value. i.e. probable price which a property should bring. Here is the most common definition of market value.
Definition of Market Value: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
Ordering any of our market analysis products does not create any type of agent representation relationship. You are free to buy or sell on your own or use any real estate company.
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