Broker Price Opinion - BPO

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DEFINITION of 'Broker Price Opinion - BPO'

The estimated value of a property as determined by a real estate broker or other qualified individual or firm. A broker price opinion is based on the characteristics of the property being considered.

BREAKING DOWN 'Broker Price Opinion - BPO'

Some of the factors that a broker will consider when pricing a property include: the value of similar surrounding properties, sales trends in the neighborhood, an estimate of any of the costs associated with getting the property ready for sale and/or the cost of any needed repairs. It is important to note that a BPO is not the same as an appraisal.

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RELATED FAQS
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    An individual can invest in tax liens by identifying available liens and then participating in auctions where property tax ... Read Full Answer >>
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