Great Estates, Inc.: Scope and Terms

Scope and Terms: Broker Price Opinion

This document establishes the scope, intended use, and terms for a Broker Price Opinion (BPO) ordered through GreatEstates.US. Please read carefully before completing your purchase. The BPO is not a USPAP-compliant appraisal. By placing your order you confirm that you have read and agree to these terms.

AppraiserRussell Harrist, Colorado Certified Residential Appraiser | Certified Probate Expert (CPE)

FirmGreat Estates, Inc. | 10233 S Parker Rd, Suite 300, Parker, CO 80134

Contact(983) 333-7777 | russell@GreatEstates.US

What a Broker Price Opinion Is

A Broker Price Opinion (BPO) is an appraisal-style market analysis prepared by Russell Harrist, Colorado Licensed Real Estate Broker and Colorado Certified Residential Appraiser. Great Estates’ BPO includes detailed comparable selection, market-supported adjustments, and a supported range or point estimate of value. It is more rigorous than a standard drive-by BPO.

Critical Limitation: Not a USPAP Appraisal

This is not a USPAP-compliant appraisal. A Broker Price Opinion is not prepared under the Uniform Standards of Professional Appraisal Practice (USPAP) Standards 1 and 2. It does not include a signed appraisal certification, and it is not prepared in the role of a certified appraiser acting as an appraiser. It is prepared in the role of a licensed real estate broker providing a market analysis opinion.

Not acceptable for probate court or IRS purposes. A BPO cannot be used as the required valuation for a Colorado probate court inventory filing or for a federal estate tax return (Form 706 or related filings). If either of those is your intended use, you need a full USPAP-compliant appraisal, not a BPO. If you are unsure which product is right for your situation, contact Russell before ordering.

Appropriate Uses

A BPO from Great Estates, Inc. is appropriate when:

A preliminary value estimate is needed before deciding whether to order a full appraisal
The intended use does not require USPAP compliance
The estate attorney or other authorized party has specifically indicated that a BPO is sufficient for the intended purpose
A cost-effective market analysis is appropriate given the nature of the engagement

Scope of Work

The scope of this assignment includes:

Interior and exterior inspection of the subject property, similar in scope to a full appraisal inspection (approximately one hour on-site)
Research and analysis of comparable sales
Market-supported adjustments for differences between the subject and comparable properties
A supported opinion of market value as a point estimate or range
Delivery as an electronic PDF within 48 to 72 hours of inspection

While the BPO includes a full interior and exterior inspection, it does not include the certifications, limiting conditions statements, or extraordinary assumption disclosures required in a USPAP-compliant appraisal report.

Effective Date

For estate-related BPO assignments, the analysis will be anchored to the date of death as provided at time of order, using available market data from the effective date period. This does not constitute retrospective appraisal methodology under USPAP.

Report Delivery

The completed BPO is delivered as an electronic PDF to the email address provided at checkout within 48 to 72 hours of the completed inspection.

By Completing Your Purchase You Confirm That

1 You understand that a Broker Price Opinion is not a USPAP-compliant appraisal and does not include an appraisal certification.

2 You understand that this BPO cannot be used for a Colorado probate court inventory filing or a federal estate tax return (Form 706).

3 You have confirmed that a BPO is appropriate for your intended use, or you accept responsibility for that determination.

4 You are the personal representative, executor, or a party authorized to engage a market analysis in connection with the estate.

5 You have read and understood the scope and limitations described in this document.