Friday, May 15, 2009

Brokers Price Opinion and Comparative Price Analysis

Free Brokers Price Opinion

A Broker Price Opinion, (BPO), is a letter stating an estimated value of property, using only a few indicators taken from sales of comparable properties. Indicators for analysis are price per square foot for similar age homes in similar areas.

A Comparative Market Analysis, (CMA), is a report with documentation of 3 or more sales that compare with the subject property. Sales must be within one year so that they fall in line with the current economy. Charges range from $50 to $75 for a BPO and $175 and up for a CMA. A CMA or BPO are not an appraisal. The appraisal is an in-depth, detailed report which is normally required by lending institution when making a loan and is prepared by a licenced appraiser.

For a FREE BPO for your property or information on contacting a Certified Appraiser in your area, please contact me.

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