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What is a BPO for mortgage?

What Is A Broker Price Opinion? When a real estate broker or other qualified professional determines a propertys estimated value, its considered a broker price opinion. A BPO is used as part of the listing agreement when selling a house.

Is a BPO better than an appraisal?

Cons. A BPO isnt always as accurate as an appraisal. An appraisal is done by a licensed, certified appraiser rather than a real estate agent or broker. A BPO cant always be used as an alternative to an appraisal.

What does BPO stand for in appraisal?

A broker price opinion (BPO for short), is a real estate professionals estimate of a propertys value. It is an opinion, but one often backed up by the selling prices of comparable homes in comparable neighborhoods.

What is a Fannie Mae BPO?

The broker price opinion (BPO) is a written estimate of the probable sales price of a property performed by a real estate broker or sales person with or without an interior property inspection.

Whats one purpose of a BPO?

What Is the Goal of BPO and What Are Its Types? BPO is the abbreviation for business process outsourcing, which refers to when companies outsource business processes to a third-party (external) company. The primary goal is to cut costs, free up time, and focus on core aspects of the business.

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What does BPO mean for mortgage?

What Is A Broker Price Opinion? When a real estate broker or other qualified professional determines a propertys estimated value, its considered a broker price opinion. A BPO is used as part of the listing agreement when selling a house.

What is the difference between a BPO and a CMA?

A brokers price opinion (BPO) is a report that is performed by a licensed real estate agent, broker or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.

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