What is a BPO?

A BPO is a Broker's Price Opinion. It is a market valuation of a property, ordered by the bank oftentimes in the event of a short sale. Unlike an appraisal which is conducted by a certified appraiser, a BPO is conducted by a real estate agent and will sometimes be based on nothing more than a drive by evaluation of the property.

Because the accuracy of the BPO's varies so much, these "mini-appraisals" can sometimes cause real problems in the bank's analysis of a short sale approval.

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• short
• sale
• BPO
• brokers
• price
• opinion