Fannie Mae BPO 1999-2025 free printable template

RESIDENTIAL BROKER PRICE OPINION RED #: PROPERTY ADDRESS: This BPO is the Initial 2nd Opinion Updated Exterior Only DATE SALES REPRESENTATIVE: CLIENT NAME: FIRM NAME: PHONE NO. COMPLETED BY: FAX NO.

How to fill out blank bpo form

How to fill out Fannie Mae BPO

1. Obtain a copy of the Fannie Mae BPO form.
2. Start by filling in the property address and relevant details.
3. Gather comparable property data to assess the property's market value.
4. Evaluate the property's condition and note any repairs or improvements needed.
5. Provide an opinion of value based on the comparable properties and market trends.
6. Complete any additional sections, such as property description and market analysis.
7. Review the completed form for accuracy.
8. Submit the BPO to the appropriate Fannie Mae representative or system.

Who needs Fannie Mae BPO?

1. Real estate agents conducting property appraisals.
2. Lenders requiring property valuations for loans.
3. Investors assessing potential property purchases.
4. Banks and financial institutions managing foreclosures.
5. Property managers estimating rental values.

People Also Ask about bpo form fannie mae

What is a broker's opinion of value?

A broker opinion of value (BOV), sometimes referred to as a broker's price opinion (BPO), is an assessment of a commercial property's value by a commercial real estate broker. Often, the opinion of value is used as a way to earn a property owner's business and it is done free of charge.

Is a BPO better than an appraisal?

Similar to a home appraisal, a broker price opinion helps establish what your home is worth. But a broker opinion of value is considered less accurate than an appraisal and may not be allowed to substitute for an appraisal.

What does BPO stand for real estate?

What Is A Broker Price Opinion? When a real estate broker or other qualified professional determines a property's estimated value, it's considered a broker price opinion. A BPO is used as part of the listing agreement when selling a house.

What is a Fannie Mae BPO?

The broker price opinion (BPO) is a written estimate of the probable sales price of a property performed by a real estate broker or sales person with or without an interior property inspection.

What does BPO mean for mortgage?

What Is A Broker Price Opinion? When a real estate broker or other qualified professional determines a property's estimated value, it's considered a broker price opinion. A BPO is used as part of the listing agreement when selling a house.

What is included in a BPO?

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.

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What is Fannie Mae BPO?

Fannie Mae BPO (Broker Price Opinion) is an evaluation of a property's value conducted by a licensed real estate professional, primarily used by lenders to assess property values for mortgage underwriting and other purposes.

Who is required to file Fannie Mae BPO?

Licensed real estate brokers or agents who are tasked with providing property valuations on behalf of lenders and financial institutions are typically required to file Fannie Mae BPO.

How to fill out Fannie Mae BPO?

To fill out Fannie Mae BPO, the broker must gather necessary property details, complete specific evaluation forms, report on recent comparable sales, and provide a summary of the property's condition and any relevant market conditions.

What is the purpose of Fannie Mae BPO?

The purpose of Fannie Mae BPO is to provide lenders with a professional opinion of a property's value, assisting in decision-making processes related to mortgage financing, refinancing, and asset management.

What information must be reported on Fannie Mae BPO?

Information that must be reported on Fannie Mae BPO includes the property address, assessed market value, details of comparable properties, property condition, significant features, and current market trends.