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6 HR CE | Broker Price Opinion – Establishing Fair Market Value
November 7 @ 9:30 am - 4:30 pm
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When mortgage borrowers fall behind on their payments, lenders, mortgage servicers and loss mitigation companies may hire a real estate practitioner to take a look at the home. The BPO form will provide information on the property’s current state, market condition and a fair market value opinion in the early process of a valuation for a short sale approval or a foreclosure filing. This report is more detailed than a CMA (comparative market analysis).
These companies have very specific data requirements of both sales and listings grids. Each comparable has an adjustment column to help lead to an indicated value. Photos, repair estimate and marketing information may be required as well.
Your class will cover data search and data entry. To help you get BPO assignments, I will explain the BPO company registration format and provide a list of BPO companies.