Insider-reports - free bpo company list

The Broker Price Opinion (or BPO) is a very important aspect of the Short Sale Process. Many banks factor the BPO as a very important part in determining whether they will allow a contract to close or not. The BPO is very similar to an appraisal, only it is conducted by a Real Estate Agent. The Real Estate Agent is contacted by the bank to conduct a BPO on behalf of the bank. The bank is trusting the Agent to dutifully paint a clear opinion of value to the bank so that the bank can make a well informed financial decision.

In essence, the BPO Agent is the bank’s eyes on the property at ground level. Some banks will not use BPOs and will only use full blown appraisals. The difference is cost and timeliness. A BPO can be done quicker and for less money than an appraisal can.