{"identifier":"/us/usc/t12/s3355","title":12,"num":"\u00a7\u202f3355.","heading":"Broker price opinions","text":"\u00a7\u202f3355.\nBroker price opinions\n(a)\nGeneral prohibition\nIn conjunction with the purchase of a consumer\u2019s principal dwelling, broker price opinions may not be used as the primary basis to determine the value of a piece of property for the purpose of a loan origination of a residential mortgage loan secured by such piece of property.\n(b)\nBroker price opinion defined\nFor purposes of this section, the term \u201cbroker price opinion\u201d means an estimate prepared by a real estate broker, agent, or sales person that details the probable selling price of a particular piece of real estate property and provides a varying level of detail about the property\u2019s condition, market, and neighborhood, and information on comparable sales, but does not include an automated valuation model, as defined in section 3354(c)\n1\n1 See References in Text note below.","url":"https://projectusc.org/usc/t12/s3355.html","content":[{"t":"sec","id":"/us/usc/t12/s3355","children":[{"t":"num","text":"\u00a7\u202f3355."},{"t":"heading","text":"Broker price opinions"},{"t":"subsec","id":"/us/usc/t12/s3355/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"General prohibition"},{"t":"content","children":[{"t":"p","text":"In conjunction with the purchase of a consumer\u2019s principal dwelling, broker price opinions may not be used as the primary basis to determine the value of a piece of property for the purpose of a loan origination of a residential mortgage loan secured by such piece of property.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s3355/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Broker price opinion defined"},{"t":"content","children":[{"t":"p","text":"For purposes of this section, the term \u201cbroker price opinion\u201d means an estimate prepared by a real estate broker, agent, or sales person that details the probable selling price of a particular piece of real estate property and provides a varying level of detail about the property\u2019s condition, market, and neighborhood, and information on comparable sales, but does not include an automated valuation model, as defined in section 3354(c)\u202f","children":[{"t":"ref","text":"1"},{"t":"num","text":"1","tail":"\u202fSee References in Text note below."},{"t":"text","text":"\u202fSee References in Text note below.","tail":" of this title."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}