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Fannie Mae Residential Broker Price Opinion 1999 free printable template

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

Version
Form Popularity
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Fannie Mae Residential Broker Price Opinion 2009
4.5 Satisfied (26 Votes)
Fannie Mae Residential Broker Price Opinion 1999
4.8 Satisfied (96 Votes)

How to fill out Fannie Mae Residential Broker Price Opinion

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How to fill out Fannie Mae Residential Broker Price Opinion

01
Gather property information: Collect details about the property such as location, size, age, and condition.
02
Research comparable properties: Look for similar properties in the area that have recently sold or are currently on the market.
03
Analyze market trends: Study local real estate market trends to understand pricing dynamics.
04
Complete the BPO form: Fill out the Fannie Mae Residential Broker Price Opinion form with the gathered information and analysis.
05
Provide a valuation: Estimate the property's value based on your research and complete the valuation section in the form.
06
Include photos: Attach clear photos of the property, including exterior and interior shots, if applicable.
07
Review and submit: Double-check all information for accuracy and submit the completed BPO to Fannie Mae.

Who needs Fannie Mae Residential Broker Price Opinion?

01
Lenders who are assessing the value of a property for loan purposes.
02
Real estate agents preparing property appraisals for clients.
03
Investors looking to determine the market value of properties prior to purchase.
04
Organizations involved in foreclosure or REO (Real Estate Owned) property management.
05
Insurance companies needing to establish property values for underwriting purposes.
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People Also Ask about

Key Takeaways. A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions. A real estate agent usually works on commission, being paid a percentage of the property's sale price.
The Residential Real Property Disclosure Act is an Illinois statute that was enacted in 1998 with the purpose of protecting home buyers from unscrupulous sellers who falsely report the condition of their property. It is supposed to provide buyers with a reliable representation on the major conditions of a property.
The Illinois Residential Real Estate Property Disclosure Act is a real estate law in Illinois that requires home & property sellers to inform potential real estate purchases of a wide variety of issues, defects and repairs that the property owners are aware of as well as the repairs that have been completed to address
However, the statute of limitation in Illinois for an action of “failure to disclose” is one year from the purchase of the property. Bottom line, if you're a seller, don't try to hide anything that should be listed on the disclosure statement.
Illinois law requires you, as a home seller, to tell a prospective buyer, in writing, about any material defects you actually know about. This means anything you're aware of that affects the value, healthfulness, and safety of your property.
THIS NOTICE IS A DISCLOSURE OF SELLER'S KNOWLEDGE OF THE CONDITION OF THE PROPERTY AS OF THE DATE SIGNED BY SELLER AND IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR WARRANTIES THE PURCHASER MAY WISH TO OBTAIN. IT IS NOT A WARRANTY OF ANY KIND BY SELLER OR SELLER'S AGENTS.

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Fannie Mae Residential Broker Price Opinion (BPO) is an assessment conducted by a licensed real estate broker or agent to estimate the market value of a residential property. It is typically used by lenders to understand the value of a property that may be involved in a mortgage transaction.
Licensed real estate brokers or agents are required to file a Fannie Mae Residential Broker Price Opinion when lenders request a professional assessment of a property's value, often in the context of underwriting or managing mortgage loans.
To fill out a Fannie Mae Residential Broker Price Opinion, the broker should gather relevant property information, perform a market analysis, and provide a detailed report that includes property details, market trends, comparative sales, and the estimated value of the property.
The purpose of the Fannie Mae Residential Broker Price Opinion is to provide lenders with an expert opinion on the market value of a property to assist in making informed underwriting decisions and to ensure compliance with lending guidelines.
The information that must be reported on a Fannie Mae Residential Broker Price Opinion includes the subject property's address, property characteristics, market conditions, comparable sales data, the broker's opinion of value, and any relevant notes about the property or market.
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