I am routinely approached by lenders for my services…I am asked to prepare what’s called a BMA (Broker Market Analysis). These are becoming typical as banks use them for value justification in refi or modification scenarios…BMA’s are also a part of the short sale process.
Completing a BMA is not hard, but it’s a lot of time. Analyzing sales and listings and estimating value…Payment for completing a BMA ranges from $100-$225 and my typical charge is $150…I charge that because in some situations they lead to a listing opportunity so it makes sense to be fair…
I recently completed a BMA for value for a home in Cooper City, I agreed to my customary $150 fee and completed the work…I sent it to the lender and also included my invoice…That has been 5 weeks ago and still no payment. Now mind you I don’t need the $150 but C’mon man!
D. S. at Aquilla Financial…I was your friend when you wanted the report…Now I am just a stooge. Thanks.