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broker price opinion

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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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