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What is the BPO (Broker Price Opinion)?

April 26, 2017bpo broker Opinion price

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What is the BPO (Broker Price Opinion)?

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A BPO (i.e. appraisal) is a document that gives an estimate of a property’s fair market value; an appraisal is generally required by a lender before a loan approval of a Short Sale to ensure that the mortgage loan amount is not more than the value of the property.