Broker Price Opinion (BPO)

A Broker Price Opinion (BPO) is an estimate of a property's market value, typically prepared by a real estate broker or agent. It helps lenders, buyers, and sellers understand what a property might sell for based on current market conditions, recent sales of similar properties, and the property's characteristics. Unlike a formal appraisal, which is more detailed and regulated, a BPO is generally quicker and less expensive. BPOs are often used in situations like refinancing, short sales, or determining listing prices, providing valuable insight without the comprehensive analysis of an appraisal.