Real estate valuations provider PCV Murcor said it is introducing a rental broker price opinion product this week at the annual Mortgage Bankers Association convention, taking place in Chicago.
The new product is geared towards investors looking to identify bulk rental opportunities, and includes a broker price opinion, automated rent estimate (ARE) and the option to receive a reconciled broker opinion of the ARE.
The report also includes market rent and sales trending data with sales listing and rent comparables mapped from the subject neighborhood, the company said in a statement.
“Investors need a portfolio due diligence tool that will assist them in making a ‘buy/no buy’ decision on a bulk purchase of REO assets. There are two critical pieces of data required for these decisions; the first is the value of the property and the second is an estimate of the potential rental income,” said Keith Murray, CEO of PCV Murcor.
“This new evaluation can now provide, in a single report, a decisioning tool for lenders, servicers and GSEs as they evaluate the pros and cons of executing bulk REO rental sales versus disposition strategies,” said Tim Scherf, COO of PCV Murcor.
“Our rental BPO also helps servicers weigh the option of hiring a property management company to rent the property until the market value justifies the disposition.”
