broker price opinion

(redirected from Broker Price Opinions)
Also found in: Acronyms.

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 appraiser community is consistently monitoring state legislative and regulatory activities as it relates to BPOs and is prepared to respond to any effort to expand the use of broker price opinions for anything other than for real estate listing and sales purposes.
West Valley City, Utah-based Infinity Valuation Services (IVS) is a provider of Broker Price Opinions (BPO) focused on the unique market and aspects of distressed properties, as well as non-distressed, retail properties.
Clear Capital products include appraisals, broker price opinions, property condition inspections, value reconciliations, appraisal review and risk scoring, automated valuation models, and home data indices.
Clear Capital, Truckee, California, has launched a series of commercial broker price opinion (BPO) and commercial valuation products.
By adding an evaluation of the property's exterior condition, Bradford Technologies is furthering the industry's move toward valuation alternatives that are far more reliable than broker price opinions (BPOs), according to the company.
The guide also contains a special section showing agents exactly how to deliver Broker Price Opinions, a service they can use as the easiest way to break into the REO market.
Another issue that concerns Florida appraisers is how to ensure that broker price opinions are not considered actual appraisals, as is increasingly happening in the mortgage industry.
About Valuation Partners, LLC Based in Sugar Land, Texas, Valuation Partners provides vendor management, appraisal reviews, collateral assessment, broker price opinions, and appraiser-assisted products to the mortgage industry.
These newly foreclosed properties are being featured with independent appraisals and broker price opinions posted within our online marketplace thereby enabling home buyers to buy with more confidence.
offers tax and structural information for both residential and commercial properties, assessed values, AVM's, appraiser-assisted AVM's, desktop appraisers, broker price opinions (BPO's), drive-by appraisals, full Uniform Residential Appraisal Report (URAR) appraisals and complete narrative commercial appraisals.