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broker price opinion
(redirected from BPO)

   Also found in: Acronyms, Wikipedia 0.01 sec.
Broker Price Opinion
An estimation of the value of a property by a real estate broker. A broker price opinion may take into account the quality of the property, values of surrounding properties and market conditions in the area. However, the estimation is not as detailed or as definitive as a full appraisal. A BPO may be done at the request of a bank when the owner of the property is attempting to refinance a loan or when it is attempting to find an alternative to foreclosure. It also may be done to help a seller determine the best asking price for his/her property.

broker price opinion (BPO)

In most states, only a licensed appraiser is authorized to offer a professional opinion as to the value of a property. Often, though, a real estate broker will be asked to offer an opinion regarding the price to ask when marketing a property.This is a fine distinction, but perfectly legal,as long as labeled as such.BPOs are frequently obtained by out-of-state lenders seeking to work out a sale of a distressed property.



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Their business process outsourcing (BPO) approach recommends establishing a BPO analysis team, providing specific leadership guidelines for each stage of the BPO life cycle, and recognizing the risks that the BPO-induced change represents.
In a recent report, the analyst company says that high demand for BPO services among companies seeking to cut costs on non-competitive business processes has created a "seller's market".
Gartner analysts predicted earlier this year that eight to 12 major BPO contracts, each exceeding $300 million in contract value, were likely to be signed between the fourth quarter of 2004 and the end of the first quarter in 2005.
 
 
 
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