Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Real Estate Appraisal Forums > General Appraisal Discussion
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 04-15-2008, 05:47 PM
Nikolay Pavlov Nikolay Pavlov is offline
 
Join Date: Jun 2006
State: New Jersey
Professional Status: Certified Residential Appraiser
Posts: 106
Default Can an appraiser do a BPO?

Can an appraiser do a BPO?
Sponsored Links

  #2  
Old 04-15-2008, 05:53 PM
Webbed Feet's Avatar
Webbed Feet Webbed Feet is offline
 
Join Date: Feb 2005
Location: City of Free Speech
State: Other Non-US
Professional Status: Certified Residential Appraiser
Posts: 12,222
Default

Mr. Pavlov,

Does a BPO contain within it an opinion of value? .. Answer: Yes. ... When an appraiser arrives at an opinion of value is this a real estate appraisal? .. Answer: Yes.... Are real estate appraisers allowed to do real estate appraisals? .. Answer: Yes.

So, ... YES!

Webbed.
  #3  
Old 04-15-2008, 06:02 PM
Midwest Guy's Avatar
Midwest Guy Midwest Guy is offline
 
Join Date: Dec 2006
Location: St Charles
State: Missouri
Professional Status: Certified Residential Appraiser
Posts: 1,152
Default

Sure,

Call it a BPO, just make damn sure you address each standard and each rule in USPAP. Might get pretty lengthy.
  #4  
Old 04-15-2008, 06:02 PM
James Morris James Morris is offline
 
Join Date: Jul 2006
State: Michigan
Professional Status: Banking/Mortgage Industry
Posts: 94
Default

In some states appraisers cannot do BPOs. I can't think of them off the top of my head. In other states, like Michigan, appraisers HAVE to do BPOs; a broker cannot do them. There are other states like this. If I can dig up info when I have time I'll give more details. I have to go watch the Tigers turn everything around and stomp the Twins
  #5  
Old 04-15-2008, 06:07 PM
Walter Kirk Walter Kirk is offline
 
Join Date: Jun 2003
Location: Audubon, N.J.
State: New Jersey
Professional Status: Licensed Appraiser
Posts: 4,412
Default

Can you do a BPO, Yes, Just be sure that you comply with USPAP and keep a complete file.

Should you do a BPO, NO!!!, BRO's are used instead of appraisals and they undermine the economic and professional status of appraisers.
  #6  
Old 04-15-2008, 06:22 PM
38Scarcello's Avatar
38Scarcello 38Scarcello is offline
 
Join Date: Apr 2004
Location: Seattle, Washington
State: Washington
Professional Status: Certified Residential Appraiser
Posts: 505
Default

Hmmmmm.......BPO's for $50 a pop sound fun! How else can one put their appraiser certification (after spending years working towards) to good use? You get to drive to subject....drive past all the comparables.....drive past all the listings...and two hours later get back to the office with more work to do. Minus gas, time, etc....you get to net about $6 bucks.
  #7  
Old 04-15-2008, 06:40 PM
Doug Smith, SRA's Avatar
Doug Smith, SRA Doug Smith, SRA is offline
 
Join Date: Jan 2002
Location: Southwest Montana
State: Montana
Professional Status: Certified General Appraiser
Posts: 999
Default A O-21

Probably a good idea to read up on the issue of Brokerage and Appraisal in USPAP Advisory Opinion 21. Know that price is a "fact" and and value is an opinion.

An appraiser needs to call a BPO a market analysis to help establish an asking price or some other type name rather than a Broker's Price Opinion. Calling the report a BPO would be misleading if you are not a broker.

I would shift into a cost accounting mode during the process and test the cost effectiveness.

Lastly consider the liability issue. Think of the poor prize fighter. A guy that pops another guy in the nose can be charged with misdemeanor assault. Put a prize fighter in a bar and when he pops a guy in the nose he is charged with felony assault because he is a trained fighter. An appraiser is a trained professional and therefore liability is higher.

Doug
  #8  
Old 04-15-2008, 06:51 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 13,667
Default

Quote:
Originally Posted by Nikolay Pavlov View Post
Can an appraiser do a BPO?
I assume you ask this question relevant to the USPAP.

A broker may perform a BPO.

A licensed appraiser can not provide a BPO; any opinion of value by the licensed appraiser is correctly known as an "appraisal".

If the licensed appraiser is also a licensed broker...and if the client comes to this person in their role as a broker, in such an instance the broker may perform a BPO.
__________________
Lee Lansford, IFA
"My opinions & my opinions only!"
  #9  
Old 04-15-2008, 06:54 PM
Webbed Feet's Avatar
Webbed Feet Webbed Feet is offline
 
Join Date: Feb 2005
Location: City of Free Speech
State: Other Non-US
Professional Status: Certified Residential Appraiser
Posts: 12,222
Default

Quote:
Originally Posted by Doug Smith, IFAS View Post
<snip> ..... An appraiser is a trained professional and therefore liability is higher.

Doug
This also means if an appraiser pops a MBer or an UWer in the nose, as in theory they are also trained professionals, that this should be back to only a misdemeanor. If done while in a ring, it's a prize fight!

Webbed.
  #10  
Old 04-15-2008, 07:22 PM
EVAUSA EVAUSA is offline
 
Join Date: Jan 2008
Location: The Nard
State: California
Professional Status: Certified Residential Appraiser
Posts: 437
Default

I had the same question in my last USPAP class and the senses was NO! The reason was because I'm not a "Broker", so it wouldn't be a Broker Price Opinion. See if they will accept it on a general form, but dont use the BPO form unless you are a licensed broker, it's misleading.
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 09:48 PM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93