In broker's price opinion, the real estate professional often just drive price determination by the property and take photos, then complete paperwork for the lender. A broker price opinion, or BPO, is a real estate professional's assessment of the worth of a property.
Internal and external broker's price opinion's are two basic categories. A broker will spend time inside home during an interior BPO to assess property's condition, take measurements, and take pictures. A broker may only be able to evaluate the outside of the property with an external BPO, also known as a drive-by BPO, before assigning it a sticker price.
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