broker price opinion

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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.

References in periodicals archive ?
The global BPO market remains fragmented, and is largely dominated by small and medium-sized service providers.
Speaking on the occasion Mr B L Jain, Co-Founder of WBPO Forum said "the external challenge is in the form of opposition from the US politicians and the UK labor unions against shifting of the BPO operations by local companies to India.
Gartner estimates that North America's BPO market will grow 3.
This column assesses two emerging trends: 1) the hybrid offshore/onshore delivery model and 2) platform-based BPO.
A year ago, BPO providers and prospective buyers held many discussions, but few deals were signed," said Lisa Stone, research vice president at Gartner.
There are three major areas where BPO in a M&A activity can assist: 1) greater transparency when performing due diligence on operations such as F&A; 2) outsourcers standardize operations and procedures, therefore make it easier to change hands and place a value or expense on the service, as well as make the scope of work more easily identified; and 3) BPO helps alleviate the most complicated parts of the deal in verification of the operational assets, the human resources and the financial accounting liability.
Reflecting these market conditions, we can expect to see the first stages of the contraction of the India offshore BPO model during the third and fourth quarters of 2003.
In 2002, the India BPO industry witnessed its first phase of consolidation, with CustomerAsset being acquired by ICICI OneSource, Spectramind by Wipro, and Warburg Pincus buying the British Airways stake in WNS (formerly known as Speedwing World Network Services).