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The document is an Interior Broker Price Opinion (BPO) form that evaluates a subject property's marketability, condition, and value. It includes sections for property information, market conditions, required repairs, marketing strategies, competitive listings and sales, and a final market value assessment. The BPO aims to provide a comprehensive analysis of the property in relation to comparable listings and sales to determine its potential selling price.

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What is a BPO used for?

A broker price opinion (BPO) is a real estate professionals official estimate of a propertys value. BPOs may be helpful when buying or selling a home. Buyers can use the BPO to help find out whether theyre getting a good deal. Additionally, the service may help sellers market their homes with an accurate price.

Is a BPO better than an appraisal?

A BPO is typically completed by a real estate broker or agent and is not required to conform to USPAP or state appraisal law. A BPO can be completed by a licensed or certified appraiser, but then becomes an appraisal under USPAP and state law.

Who completes a BPO?

Will PMI be removed now? Now that your LTV has reached 80% or below, you are eligible to request your PMI be removed. An automated valuation or BPO will be required to confirm the property value has not decreased since closing.

What does a BPO stand for in real estate?

A broker price opinion (BPO) is the estimated value of a property as determined by a real estate broker or other qualified individual or firm.

How much does a BPO cost in real estate?

Cost: Broker price opinions are also less expensive than the cost of an appraisal. An appraisal can run anywhere from $300 to 800 or more, and a BPO costs half that and sometimes even less, roughly $50 or so, ing to Andrews.

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