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Understanding of the law governing broker price opinions and the ... it is appropriate for a real estate broker to perform a broker price opinion for a fee.

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While typically used in the listing agreement a homeseller signs with an agent, BPOs can also be employed in valuing an estate or financial assets, or by homeowners thinking of refinancing their mortgages or wanting to get their private mortgage insurance premiums lifted.

A broker's price opinion (BPO) is an estimation of a home's value that can be used by homeowners and home sellers. Homeowners can often use a BPO as proof of their home's value to refinance their mortgage or eliminate private mortgage insurance (PMI) on their mortgage.

BPOs are most often used by mortgage lenders – typically in cases when a borrower is behind on their payments. The lender will use the BPO to assess the property's value (in comparison to the balance left on the mortgage) and determine the best path forward.

A broker price opinion can be requested by a lender who wants an assessment of a property for such needs as the refinancing of a mortgage or a foreclosure. The owner of a property could also seek such an opinion if they are looking to make changes either through a sale or a refinancing of their mortgage.

The two main differences between appraisals and BPOs involve time and cost. Home appraisals are conducted by trained experts, while BPOs are done by agents or brokers. The appraisal accuracy will be much higher because appraisers must meet certain educational guidelines and benchmarks.

A broker's price opinion (BPO or sometimes referred to as a broker's opinion of value, BOV) is an analysis performed by a commercial real estate broker that provides an estimate of value or price for real estate.

Similar to a home appraisal, a broker price opinion helps establish what your home is worth. But a broker opinion of value is considered less accurate than an appraisal and may not be allowed to substitute for an appraisal.

A broker price opinion can be requested by a lender who wants an assessment of a property for such needs as the refinancing of a mortgage or a foreclosure. The owner of a property could also seek such an opinion if they are looking to make changes either through a sale or a refinancing of their mortgage.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232