Broker Price Opinion (BPO)
The Broker Price Opinion (BPO) is a limited real estate information report provided by a licensed real-estate professional. The BPO is used to estimate the most probable price the subject property should sell for in an open, competitive market. The real-estate professional searches for properties with similar design, condition, and location to the subject in order to provide the most accurate price available.
Broker Price Opinion (BPO) Reports:
- Provides exterior inspection of the subject property (interior inspection available upon request)
- Includes one photo of the subject front
- Provide an analysis of the supply and demand of the subject in its market
- Provides information on competitive listings and comparable sales
- Addresses adverse conditions evident from an exterior inspection
My BPO, or Broker Price Opinion, is a tool used by lenders and mortgage companies to value properties in situations where they believe the expense and delay of an appraisal is not necessary. After I am given an order to do a BPO by the lender, mortgage company or loss mitigation company. I will do either a Drive By BPO or an Internal BPO in most cases. You can learn about my experience preforming BPOs on my Facebook page.
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