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#1977800 - 11/20/14 05:21 PM BPO - commercial real estate?
CalifDreamin Offline
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CalifDreamin
Joined: Mar 2002
Posts: 2,262
Far from Calif
Do you agree that you cannot use a broker price opinion by itself in a commercial RE deal?

The guidelines discuss not being able to use it as a primary basis to determine property value for a consumer's principal dwelling; however, to some, it's not as clear on commercial. In the definition it does state, "A BPO is not by itself an appraisal or evaluation, but could be used for monitoring the collateral value of an existing loan, when deemed appropriate."
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Lending Compliance
#1977802 - 11/20/14 05:24 PM Re: BPO - commercial real estate? CalifDreamin
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Yes.
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#1979451 - 11/26/14 06:41 PM Re: BPO - commercial real estate? CalifDreamin
Elizabeth Riding Offline
Member
Elizabeth Riding
Joined: Nov 2010
Posts: 63
Kansas
If you wanted to do an in-house commercial appraisal, as opposed to a full-blown commercial appraisal, are there guidelines that must be followed and would anyone be able to post them for me?
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#1979460 - 11/26/14 06:51 PM Re: BPO - commercial real estate? CalifDreamin
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
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#1979462 - 11/26/14 06:54 PM Re: BPO - commercial real estate? CalifDreamin
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
Search the Interagency Appraisal Guidelines using Evaluation Program as your search term.
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