Professional Realty Co
Joe Prost (248)346-8272
Joe Prost (248)346-8272
BROKER PRICE OPINION:
Commercial and Residential*
The Broker Price Opinion or Broker Opinion of Value (BPO or BOV) is a tool used by Attorneys, Lenders, Mortgage Companies and others to price properties in situations where they believe the expense and delay of an appraisal is not necessary (i.e., Pre-Forclosure, REO's, Short Sales, Equity Loans, etc.).
Homeowner's use this tool to receive a realistic price range for their home; without some agent's expectation of a listing influencing their opinion.
The Broker does either a Desktop BPO, Exterior Drive By BPO or Interior BPO in most cases.
Commercial Desktop BPO/BOV fees start at $350.00 and are available in most area's.
Commercial Exterior Drive By BPO/BOV fees start at $500.00 including
up to 5 photos.
Commercial Interior BPO/BOV fees start at $650.00 including up to 10 photos.
Commercial Exterior Drive By and Interior BPO/BOV's are only offered in specific area's.
All Commercial BPO/BOV's are given a price range using the Sales Comparison Approach. The turn time is 15 days from acceptance of order. Rush orders (less than 15 days) are available for an additional fee.
The turn time is 2-3 business days for an Exterior Drive By Residential BPO. I perform rush orders (24 hours/same day if possible) upon request with additional fee. I drive by the subject property and take exterior front and street photos (noting neighborhood amenities, conditions, etc.), and provide 3 active and 3 sold comparables including MLS photos if available.
The fee is $125.00 for a Desktop Residential BPO with no driving to the subject location using the MLS and Public Records Data; usually within 48 hours. MLS photos provided if available. Available in most area's. See sample Residential BPO form.
The fee is $175.00 for an Exterior Drive By Residential BPO.
The fee is $250.00 for an Interior Residential BPO ( including photos of interior rooms and rough estimates of any repairs and/or expenses observed. This is not a Home Inspection.
Exterior Drive By Residential BPO's and Interior Residential BPO's are only offered in specific area's.
*All Above Fee's apply to Property ID Number's (not Address or Commercial Name), One Fee per ID Number. Additional Fee's may apply in some area's of if Multiple Buildings on 1 ID Number.
"THIS IS A MARKET ANALYSIS, NOT AN APPRAISAL AND WAS PREPARED BY A LICENSED REAL ESTATE BROKER OR ASSOCIATE BROKER, NOT A LICENSED APPRAISER."