Understanding the Fannie Mae Broker Price Opinion (BPO) form, specifically tailored for vacant lots, offers valuable insights into the process of evaluating real estate. This form gathers detailed information on a property, including its description, conditions, and the realtor or evaluator's contact details, providing a scaffold for assessing a property's value accurately. By allowing evaluators to rank neighborhood characteristics and the desirability of the property on scales from 1 to 10, the form encapsulates a comprehensive view of not only the property itself but also its surroundings. Such rankings cover aspects from neighborhood desirability and expected vandalism to area lease rates and anticipated price appreciation over the next decade, painting a full picture of the property's current status and its potential future. Additionally, the inclusion of market data, with listed and sold comparables, facilitates a well-rounded analysis by comparing the subject property to others in the vicinity, offering insights into the local real estate market dynamics. The requirement for photographs of the subject property and comparables further enriches the evaluation, making the BPO form a robust tool for understanding and projecting the value of vacant lots in varying markets and neighborhoods.
| Question | Answer |
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| Form Name | Fannie Mae BPO Form |
| Form Length | 8 pages |
| Fillable? | Yes |
| Fillable fields | 114 |
| Avg. time to fill out | 24 min 52 sec |
| Other names | vacant bpo, fannie mae residential bpo form, bpo form pdf, fannie mae bpo |
FNMA VACANT LOT BPO FORM
SUBJECT
LOAN NUMBER:
PROPERTY ADDRESS:
INSTRUCTIONS:
DATE DUE:
DATE ORDERED:
PROPERTY DESCRIPTION:
ADDITIONAL INSTRUCTIONS:
NEIGHBORHOOD CHARACTERISTICS
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PLEASE RANK |
RANK |
RANKING LEGEND |
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NEIGHBORHOOD DESIRABILITY |
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(1 - LEAST DESIRABLE, 10 - MOST DESIRABLE) |
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NUMBER OF VACANCIES |
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(1 - FEW, 10 - MANY) |
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VANDALISM EXPECTED |
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(1 - NONE, 10 - MUCH) |
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AGE OF NEIGHBORHOOD |
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(1 - VERY OLD, 10 - VERY NEW) |
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AREA LEASE RATES |
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(1 - LOWEST IN TOWN, 10 - HIGHEST IN TOWN) |
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NEIGHBORHOOD PROPERTY PRICES |
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(1 - LOWEST IN TOWN, 10 - HIGHEST IN TOWN) |
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NEIGHBORHOOD PRICES OVER NEXT 10 |
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YEARS EXPECTED TO |
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(1 - DECLINE, 10 - APPRECIATE) |
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RURAL / SUBURBAN / URBAN |
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(1 - RURAL, 10 |
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SUBJECT PROPERTY DESIRABILITY |
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(1 - UNDESIRABLE, 10 - VERY DESIRABLE) |
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SUBJECT MAINTENANCE |
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(1 - NEEDS MUCH WORK, 10 - IN EXCELLENT REPAIR) |
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SUBJECT PROPERTY INFORMATION |
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CONDITION: |
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IMPROVED: |
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IS SUBJECT FOR SALE? |
REALTOR: |
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PHONE: |
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YES |
NO |
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EVALUATOR: |
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DATE: |
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LICENSE #: |
PHONE #: |
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OPINION OF
LOW
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HIGH
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MARKET TIME "AS IS" MONTHS:
Page 1 of 8
Word version copyright 2008 Forms in Word (www.formsinword.com). For individual or
LOAN NUMBER: |
PROPERTY ADDRESS: |
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MARKET DATA – LISTED COMPARABLES
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ITEM |
SUBJECT |
COMP 1 |
COMP 2 |
COMP 3 |
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COMPLETE ANY INFO NOT |
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ADDRESS |
INCLUDED ON FIRST PAGE |
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FOR SUBJECT |
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CONDITION |
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APPROX. SIZE |
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DISTANCE FROM |
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SUBJECT |
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CLOSING/SOLD DATE |
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DAYS ON MARKET |
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ORIGINAL LIST PRICE |
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CURRENT/SOLD PRICE |
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COMP 1 |
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COMMENTS & |
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DESCRIPTION |
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COMP 2 |
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COMMENTS & |
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DESCRIPTION |
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COMP 3 |
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COMMENTS & |
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DESCRIPTION |
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MARKET DATA – SOLD COMPARABLES |
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ITEM |
SUBJECT |
COMP 1 |
COMP 2 |
COMP 3 |
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COMPLETE ANY INFO NOT |
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ADDRESS |
INCLUDED ON FIRST PAGE |
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FOR SUBJECT |
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CONDITION |
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APPROX. SIZE |
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DISTANCE FROM |
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SUBJECT |
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CLOSING/SOLD DATE |
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DAYS ON MARKET |
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ORIGINAL LIST PRICE |
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CURRENT/SOLD PRICE |
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COMP 1 |
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COMMENTS & |
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DESCRIPTION |
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COMP 2 |
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COMMENTS & |
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DESCRIPTION |
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COMP 3 |
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COMMENTS & |
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DESCRIPTION |
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Page 2 of 8
Word version copyright 2008 Forms in Word (www.formsinword.com). For individual or
SUBJECT PROPERTY – PHOTOGRAPHS
LOAN NUMBER:
PROPERTY ADDRESS:
PHOTOGRAPH LOG
Subject Property – Photo 1 Description Here (front, back, etc.)
Subject Property – Photo 2 Description Here (front, back, etc.)
Page 3 of 8
Word version copyright 2008 Forms in Word (www.formsinword.com). For individual or
SUBJECT PROPERTY – PHOTOGRAPHS (cont.)
Subject Property – Photo 3 Description Here (front, back, etc.)
Page 4 of 8
Word version copyright 2008 Forms in Word (www.formsinword.com). For individual or
LISTED COMPARABLES – PHOTOGRAPHS
Listed Comparable #1 – Photo 1 Description Here (front, back, etc.)
Listed Comparable #2 – Photo 1 Description Here (front, back, etc.)
Page 5 of 8
Word version copyright 2008 Forms in Word (www.formsinword.com). For individual or
LISTED COMPARABLES – PHOTOGRAPHS (cont.)
Listed Comparable #3 – Photo 1 Description Here (front, back, etc.)
Page 6 of 8
Word version copyright 2008 Forms in Word (www.formsinword.com). For individual or
SOLD COMPARABLES – PHOTOGRAPHS
Sold Comparable #1 – Photo 1 Description Here (front, back, etc.)
Sold Comparable #2 – Photo 1 Description Here (front, back, etc.)
Page 7 of 8
Word version copyright 2008 Forms in Word (www.formsinword.com). For individual or
SOLD COMPARABLES – PHOTOGRAPHS (cont.)
Sold Comparable #3 – Photo 1 Description Here (front, back, etc.)
Page 8 of 8
Word version copyright 2008 Forms in Word (www.formsinword.com). For individual or