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A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
In Germany, real estate appraisal is known as real estate valuation (Immobilienbewertung). Real estate appraisers (Immobilienbewerter or Gutachter) can qualify to become a Öffentlich bestellter und vereidigter Sachverständiger (officially appointed and sworn expert). However, this formerly very important title has lost a lot of its importance ...
BREA is responsible for the accreditation of educational courses and providers for real estate appraisers and has reviewed and approved over 1,800 pre-licensing and continuing education courses. [1] In addition to the real estate appraisal related courses offered by the community college, University of California, and California State ...
The sales comparison approach (SCA) is a real estate appraisal valuation method that relies on the assumption that a matrix of attributes or significant features of a property drive its value. For examples, in the case of a single family residence, such attributes might be floor area, views, location, number of bathrooms, lot size, age of the ...
For income-producing real estate, the NOI is the net income of the real estate (but not the business interest) plus any interest expense and non-cash items (e.g. -- depreciation) minus a reserve for replacement. The CAP rate may be determined in one of several ways, including market extraction, band-of-investments, or a built-up method.
More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor under a license to real property. [1] In the science and art of appraisal, it is the amount that would be paid for rental of similar real property in the same condition and in the same area. [2] [3]
Appraisal Reductions were created in response to rating agency concerns that, without such an adjustment, cash flow from mortgages likely to default would be paid to the first-loss class. The rationale behind appraisal reductions is to support proactively the credit rating of senior CMBS tranches by reducing cash-flow payments to the ...
The Appraisal Institute (AI), headquartered in Chicago, Illinois, is an international association of professional real estate appraisers. [1] It was founded in January 1991 when the American Institute of Real Estate Appraisers (AIREA) and the Society of Residential Appraisers merged. The AIREA and the Society were respectively founded in 1932 ...