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Sample comments that I use when completing a BPO if you’d like to share please add to the post.
I use something similar to the following when commenting on my properties in the BPO's. Please share any of yours!
Subject is a _____ Bedroom ___ Bathroom with _____ sq ft of living space. Neighborhood comprised of mostly new construction and single family dwellings. The neighborhood reflects good employment stability, upkeep, and repair. There are no adverse living conditions which affect the livability of the property. The area is noted for major thoroughfares which provide good access to schools, parks, shopping, and civic facilities.
All comparables are considered substitutable for the subject property and all are given equal emphasis. All are located in similar neighborhoods. All are considered cash equivalent with few adjustments which were _______________________________________
There were additional adjustments made for variance in various amenities.
The property conforms to the neighborhood in terms of functional utility, style, condition, and quality of construction.
The market value appears to have stabilized , supply and demand appear to be in balance. We are seeing motivated sellers typically paying some of the buyers non-recurring closing cost.
Direct sales comparison approach given most weight it best reflects actions of buyers and sellers in the market place.
Topography is level there is normal utility easements. There are ne adverse encroachments noted.
Site is located next to busy street.
Property sits adjacent to an apartment complex, noise is a nuisance adjusted variance to property lot size.
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