Broker Price Opinion vs Appraisal

A BPO is called Broker price opinion, it is processed similar to a real estate appraisal. Brokers are chosen to evaluate the current value of a home. It is called Brokers opinion of value. The BPO process is considered to be simple compared to a much detailed appraisal. A BPO can be either exterior or an interior BPO. The process involves selecting 3 recent sold and 3 listing property comparables in the immediate neighborhood. The real estate agent then evaluates the property value based on the current market condition.