Property Address: _______________________________________________________

Effective October 1, 2012, NC Real Estate Brokers can provide BPO/CMA service for a fee, so long as the Broker’s license is active and in good standing, and the BPO/CMA meets the requirements of subsection (c) of NC GS 93A-83. Such BPO/CMA shall be in writing and conform to the standards provided under 93A-83 and NC Real Estate Commission Rules, and shall include (but not limited to) the following:

1. A statement of Intended Purpose of the BPO/CMA, _________________
   _____________________________________________________
2. A description of the subject property and property interest, ____________
   _____________________________________________________
3. The basis of reasoning used to reach the conclusion (including market data & computations)
   _____________________________________________________
4. Assumptions or Limiting Conditions, ___________________________
   _____________________________________________________
5. A Disclosure of any existing or contemplated interest of the Broker, ______
   _____________________________________________________
6. The Effective Date of the BPO, _______________________
7. The Name & Signature of the Broker (including their license #), _________
   _____________________________________________________
8. The name of the real estate brokerage firm for which the Broker is acting,
   _____________________________________________________
9. The signature Date, _______________________________________
10. Disclaimer: “This opinion is not an appraisal of the market value of the property, and may not be used in lieu of an appraisal. If an appraisal is desired, the services of a licensed or certified appraiser shall be obtained. This opinion may not be used by any party as the primary basis to determine the value of a parcel of or interest in real property for a mortgage loan origination, including first and second mortgages, refinances, or equity lines of credit.”
11. A copy of the Assignment request shall be attached to the BPO/CMA.
12. Inspect & photograph both the Interior & Exterior of the subject, (Y/N) ___
    _____________________________________________________

NOTE to Client & Broker:

1)      NC GS 93A-82 defines a BPO & CMA as: “Broker Price Opinion” and “Comparative Market Analysis” mean an estimate prepared by a licensed real estate broker that details the probable selling price or leasing price of a particular parcel of or interest in property and provides a varying level of detail about the property’s condition, market, and neighborhood, and information on comparable properties, but does not include an automated valuation model.

 

2)     Notwithstanding any provisions to the contrary, a person licensed pursuant to NC GS 93A-83, may not knowingly prepare a broker price opinion or comparative market analysis for any purpose in lieu of an appraisal when an appraisal is required by federal or State law. A broker price opinion or comparative market analysis that estimates the value of or worth a parcel of or interest in real estate rather than sales or leasing price shall be deemed to be an appraisal and may not be prepared by a licensed broker under the authority of this Article, but may only be prepared by a duly licensed or certified appraiser, and shall meet the regulations adopted by the North Carolina Appraisal Board. A broker price opinion or comparative market analysis shall not under any circumstances be referred to as a valuation or appraisal.

 

3)     A broker price opinion or comparative market analysis shall not include the reporting of a predetermined result.

 

I hereby understand and agree that the forgoing information is accurate and complete and shall be incorporated as an integral part into this BPO/CMA assignment request.

 

Client:   _____________________________________

_____________________________________

_____________________________________

_____________________________________

Signed: ________________________ Date __________

Broker:  _____________________________________

Firm:      _____________________________________

Date:     _____________________________________