I am filing Bankruptcy and my lawyer needs a local RE Agent to look at my house in Schenectady and write a
letter stating how much he thinks he could sell it for. Everywhere I call either wants me to do a full apraisal, because they say I am asking for a BPO and they can only do that for Banks or RE Firms. Is there a name for what I really need?
There are real estate professionals that can provide you with the information that your attorney is requesting. Contact me and we can talk further regarding your needs if you are still in the need for this information.
marianne.ostrander@coldwellbankerprime.com
In many States it is called a CMA (Comparative Market Analysis).
There is a difference between a CMA and a BPO (Broker Price Opinion). As you said, the BPOs are generally for Banks, REO Departments, etc.
In some States, Brokers can charge a fee for a CMA; in some states, they cannot.
Obviously, a Broker or Agent will want to be compensated for the time it takes to put together the CMA.
Hopefully you can find an Agent that will do this for you, for a reasonable fee.
Best wishes,
Fred
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