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.
Would you like to know what your home is really worth?