what is: What is a BPO, and why is it used?
- 11/16/11 02:22 AM
What’s a BPO, and why is it used? Common questions I receive as a real estate broker surround short sales, and more specifically, the steps taken to complete the short sale process. A BPO is a very important step in the short sale process because it gives the lender an idea as to whether the offer that’s been made by the prospective buyer is a fair one. What’s a BPO, and why is it used? A BPO is a “Broker’s Price Opinion,” and it’s used by the existing lender, or lender’s, to determine a fair market value for the home that’s … (1 comments)
What’s a BPO, and why is it used?
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