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Real Estate Product Codes and Descriptions
|
FLS Code |
Product
Description |
Turnaround Time
|
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FAV:
Field Asset Verification |
A drive-by property evaluation conducted by
a qualified local real estate professional
that includes one recent sold comparable,
property condition, location, and available
market data such as assessed value and last
known sale. |
2 to
3
business days |
|
EVAL:
Exterior Property Evaluation |
A drive-by property evaluation conducted by
a qualified local real estate professional
utilizing a direct sales comparison
approach.The EVAL contains 3 sold comps,
market trend, location, condition and other
data. |
3 to 4
business days |
|
EVALi:
Interior Property Evaluation |
An interior inspection of subject property
conducted by a qualified local real estate
professional. The EVALi contains 3 sold
comps, available public record data as well
as a report on interior condition and
amenities. |
5 to 6
business days |
|
BPO: Broker Price Opinion |
A drive-by property evaluation conducted by
a qualified real estate professional.
Usually used in servicing applications with
emphasis on property location and condition.
The BPO contains 3 sold and 3 listed
comparables, detailed property data, and
photos. |
4
business days |
|
BPOi:
Broker Price Opinion with an
interior inspection |
An interior inspection of the subject
property conducted by a qualified local real
estate professional. Usually used in
servicing applications with emphasis on
property location and condition. The
interior BPO contains 3 sold and 3 listed
comparables, detailed property data and
interior and exterior photos. |
5 to 7
business days |
|
PCR: Property Condition
Report |
Drive-by property inspection conducted by a
qualified real estate professional to
determine subject location and condition.The
PCR includes a photo and is frequently used
as an adjunct to an automated valuation
(AVM). |
Less than 2 business days |
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