Broker Price Opinion (BPO) - Posted by NM Reagan

Posted by Wes Murphree on June 19, 2004 at 17:26:46:

Most banks pay between $75-$150 per bpo, but keep in mind one of the resons most agents do it for this price is the possibility of getting the listing. So if the agent doesn’t have a chance at getting more money out of the deal you are probably going to have to pay a little more.

If you have an agent you work with on properties that are listed in mls, they should pull comps for you for any offers you make. If you are buying from an owner, call your agent and ask them what they would charge you to pull comps and if you have a form you want filled out. I bet they will be willing to do it for a small fee if they are getting paid on other deals from you.

Broker Price Opinion (BPO) - Posted by NM Reagan

Posted by NM Reagan on June 19, 2004 at 15:20:41:

I am thinking that the best way to accurately determine FMV of an investment property is to always have a Broker Price Opinion before making an offer (part of the due diligence). From an investor standpoint, what would be the advantages and disadvantages? If important how much do think I would have to pay (or what value would you place on it) to get such a report?