Allen Tate Realtors
Timothy Dunham

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What is a "BPO"?

A BPO, or Broker Price Opinion, is the estimated value of a home as determined by a licensed Real Estate Professional. It is also known as a Professional Opinion of Value. BPO’s are often used by Financial institutions, Lenders, and other professionals when the cost of a full appraisal is prohibitive for the situation. Consult your professional to determine if a BPO is an economical solution for your valuation needs.

About the “BPO”           

A BPO valuation of a home is based on many different factors.There are two main types of BPO.

An “Interior” BPO, in which every room is measured, certain construction materials are identified, and special interior options are taken into account. Interior and Exterior information is compared with comparable MLS listings and sales to effectively estimate the value.

The alternative is a “Drive By” BPO. This type of BPO also takes into account MLS comparables, but none of the interior qualities of the home will be used in the comparisons.  This type of BPO is commonly used when there are no significant upgrades in a home that would set it apart from other homes in the area. 


"BPO" and Agency

Your requesting a BPO and/or our providing one does not establish any agency agreement between us.  There is no commitment by either party beyond the payment for and delivery of a Brokers Price Opinion.  If your home is currently under an agency contract with another company, we can not provide a BPO.
   
   

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