Pennsylvania Code & Bulletin
COMMONWEALTH OF PENNSYLVANIA

• No statutes or acts will be found at this website.

The Pennsylvania Code website reflects the Pennsylvania Code changes effective through 53 Pa.B. 8238 (December 30, 2023).

49 Pa. Code § 35.403. Use of broker price opinion.

§ 35.403. Use of broker price opinion.

 (a)  A broker price opinion may be prepared by a broker, associate broker or salesperson only for use in conjunction with any of the following:

   (1)  A property owned by a lender after an unsuccessful sale at a foreclosure auction.

   (2)  A modification of a first or junior mortgage or equity line of credit.

   (3)  A short sale of a property.

   (4)  An evaluation or monitoring of a portfolio of properties.

 (b)  A broker price opinion may not be prepared by a broker, associate broker or salesperson for use:

   (1)  As the basis to determine the value of a parcel of real property for a mortgage loan origination, including a first or junior mortgage, refinancing or equity line of credit.

   (2)  In connection with any of the following:

     (i)   An eminent domain proceeding.

     (ii)   A Federal, State or local tax appeal.

     (iii)   A bankruptcy or insolvency proceeding.

     (iv)   An action or proceeding involving divorce or equitable distribution of property.

     (v)   Any other action or proceeding before a court of record.

     (vi)   The distribution of a decedent’s estate.



No part of the information on this site may be reproduced for profit or sold for profit.


This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.