Start to follow some of my blog posts, you’ll notice I use a lot of terms that I take for granted that most people don’t know what they mean. For existence… The term BPO? BPO is a broker price opinion… A broker price opinion is when the bank sends out either an appraiser or sometimes another real estate agent to a particular property in order to verify a couple items.

What are they looking for with a BPO?

One thing the lender/servicer is looking to verify is if the property is vacant or occupied… Second, and most importantly, they look to determine their opinion of value to give the bank. The bank is making sure that the offer that they are reviewing is within “market value”.