BPO is an acronym for Broker's Price Opinion. In general, the term Broker's Price Opinion (BPO) is a method that a Real Estate Broker (or an agent acting on behalf of their employing broker) uses to estimate the value of a Real Estate property/house.
The estimate of value is submitted in a BPO report (2-3 pages) that includes local and regional Real Estate market information, neighborhood analysis, and (comps) properties that compare to the (subject) house that is being valued. This method of estimating a value has similarities to a Certified Market Analysis CMA and a residential Real Estate appraisal.
The following video features one of my students going through the negotiation process, with a financial institution, that will lead to the submisison of a BPO report. I hope you enjoy the video.
David Oswald
Rivers of Income.
David Oswald (aka 'The Diamond') is a National Real Estate Short Sale and Foreclosure Expert who speaks throughout the United States on Creative Real Estate Investing Strategies. For more information, go to http://www.DavidOswaldOnline.com
Monday, May 11, 2009
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