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
About Me
- David "The Diamond" Oswald
- David Oswald is considered to be one of the top experts in the nation on the subject of short sales. Due to the enormously high foreclosure rate right now, short sales has been a topic of great discussion over the past two years and Oswald has taken the opportunity to train many people throughout the country on how to help homeowners out of these tough situations. As a public speaker, he has put together one of the most informative and entertaining two day seminars available to entrepreneurs entitled, "Short That Sale When the Market's Stale."
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How has your market performed over the last quater? Down here in Orlando, prices were up 5% and closings were up over 40% over a year ago. Most are attributing it to the home buyer tax credit but I've seen some foreign money coming in and I think investors, particularly fromm Brazil have determined that we've hit the true bottom and they are jumping in.
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