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If you multiply $218 by the square footage of the home in question — for instance, 2,100 square feet — the home’s value based on comparable PPSF might be around $457,800.
The real estate professional will consider comparable homes, the home’s age, the size of the property, zoning requirement and the property’s condition to determine the BPO.
Comparables (or comps) is a real estate appraisal term referring to properties with characteristics that are similar to a subject property whose value is being sought. This can be accomplished either by a real estate agent who attempts to establish the value of a potential client's home or property through market analysis or, by a licensed or certified appraiser or surveyor using more defined ...
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser.A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.
Sources of comparable data include real estate publications, public records, buyers, sellers, real estate brokers and/or agents, appraisers, and so on. Important details of each comparable sale are described in the appraisal report.
Personal loans can offer quick access to funds for home improvement projects, debt consolidation and other large fixed expenses without using your home as collateral without using your home as ...
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