BPO (Broker Price Opinion)

This is often just a real estate Broker’s opinion of the future sales price of a real estate property.

Many times, when banks are ready to sell a real estate property (that is already foreclosed, or currently in a short sale status), they will not know the current relative market value of it and would like a local real estate agent/broker to render a guess or “opinion” of what should be their asking price of the property.

Source: http://www.realestatebriefings.com/the-market/what-is-a-real-estate-bpo/

References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.

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