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What is the difference between an appraisal and a “BPO” Brokers Price Opinion?

April 26, 2017appraisal bpo brokers difference Opinion price

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What is the difference between an appraisal and a “BPO” Brokers Price Opinion?

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A BPO is provided by a realtor, typically not a licensed appraiser who has to conform to USPAP. The report is not nearly as detailed, the estimate is usually given in a range and may or may not be objective since a listing may be desired.