Official Broker Price Opinion Form in PDF

Steps to Using Broker Price Opinion

Filling out the Broker Price Opinion (BPO) form is essential for assessing the value of a property. This process involves gathering information about the property, the market conditions, and comparable sales. Follow these steps to ensure you complete the form accurately.

1. Enter the Loan # and REO # at the top of the form.
2. Fill in the PROPERTY ADDRESS, FIRM NAME, and PHONE NO..
3. Select whether this is an Initial, 2nd Opinion, or Updated BPO, or if it is for Exterior Only.
4. Provide the DATE and the name of the SALES REPRESENTATIVE.
5. Input the BORROWER’S NAME and who COMPLETED BY the form.
6. Fill in the FAX NO. if applicable.
7. In the GENERAL MARKET CONDITIONS section, describe the current market condition by selecting one of the options: Depressed, Slow, Stable, or Improving.
8. Indicate the Employment conditions as Declining, Stable, or Increasing.
9. State whether the market price of this type of property has Decreased, Increased, or Remained stable.
10. Estimate the percentage of owner occupants in the neighborhood.
11. Indicate if there is a Normal supply, oversupply, or shortage of comparable listings.
12. Provide the Approximate number of comparable units for sale in the neighborhood.
13. List the number of competing listings that are REO or Corporate owned.
14. Count the number of boarded or blocked-up homes.
15. In the SUBJECT MARKETABILITY section, provide the range of values in the neighborhood.
16. Assess whether the subject property is an over improvement, under improvement, or has appropriate improvement for the neighborhood.
17. Estimate the Normal marketing time in days.
18. Answer whether all types of financing are available for the property.
19. If the property has been on the market in the last 12 months, include the list price and reasons why it may not have sold.
20. Identify the Unit Type (e.g., single family detached, condo, etc.).
21. If applicable, provide the association fee and whether it is current or delinquent.
22. In the COMPETITIVE CLOSED SALES section, fill in the details for each comparable property, including Address, Sale Price, and Sale Date.
23. Make necessary VALUE ADJUSTMENTS for each comparable property.
24. In the MARKETING STRATEGY section, select whether the property will be sold As-is or with Minimal Lender Required Repairs.
25. Indicate the Occupancy Status and identify the most likely buyer.
26. Itemize all repairs needed to bring the property to average marketable condition.
27. Calculate the GRAND TOTAL FOR ALL REPAIRS.
28. In the COMPETITIVE LISTINGS section, fill in the details for additional comparable properties.
29. Determine the Market Value and Suggested List Price.
30. Include any COMMENTS regarding the property, mentioning any specific concerns or features.
31. Finally, sign and date the form.

Once the form is completed, it can be submitted for review or further processing. Ensure all information is accurate and thorough to facilitate a smooth evaluation process.