A broker price opinion, or BPO, is a real estate professional's assessment of the value of a property. BPOs are most commonly utilized for determining a property's list price, comparable to a comparative market study, and in the case of a foreclosure or short sale.
A broker price opinion, or BPO, is a real estate professional's assessment of the value of a property. BPOs are most commonly utilized for determining a property's list price, comparable to a comparative market study, and in the case of a foreclosure or short sale.A real estate agent or broker will utilize his or her knowledge to assign a monetary figure to a property based on specific characteristics to calculate the BPO. BPOs are often done by a broker who is well-versed in the local housing market. However, in the mortgage loan process, BPOs are not the preferred option.
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