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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. Broker Price Opinion (BPO): A Full Guide | Chase Chase.com education finding-a-home b Chase.com education finding-a-home b
The two main differences between appraisals and BPOs involve time and cost. Trained experts conduct home appraisals, while BPOs are done by agents or brokers. The appraisal accuracy will be much higher because appraisers must meet certain educational guidelines and benchmarks.
The estimate of price is submitted in a BPO report (2-3 pages) which includes an inspection of the subject house, subject neighborhood inspection and analysis, local and regional market information and trends, and comparable properties (comps) which are similar to the subject house. Broker Price Opinion Brief - NABPOP NABPOP bpo-brief NABPOP bpo-brief

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