Real Estate Emporium
Los Angeles Branch
Servicing L.A. County
HQ's-2393 Pacer Dr.
Norco, CA 92860
ph: (323)375-9788
fax: (323)927-1673
alt: (323)632-2868
info
What's A BPO?
A BPO is an inspection of a property and is performed to help lenders determine the value of a home. It is most commonly performed when a home is in default and the bank would like to know what the current value would be, in the event of having to sell the home, or if it becomes a REO asset. A BPO is completed prior to a home being listed for sale and is performed by a Real Estate Agent.
Q. What does BPO mean?
A. BPO is an acronym for Broker Price Opinion. It is most commonly referred to as a BPO in the real estate community.
Q. What's the purpose of a BPO?
A. The purpose of a BPO is to determine the value of a home before the property is listed for sale and becomes an REO. They are also often performed for a Lender Portfolio Analysis, the removal of mortgage insurance and if a property is being refinanced. There are two types of BPO's, an exterior and interior.
- Q. What's the difference between an exterior and interior BPO?
An exterior BPO is a drive by inspection of the property. It requires a photo of the front of the property to verify the address, and usually a street scene photo. An interior BPO is a drive by inspection and an inspection of the inside of the property. Several photos are taken so the lender can verify the condition of the interior of the property.
- Q. What are the advantages of a BPO?
A. BPO's provide reliable valuation to minimize credit risk and is less expensive than an appraisal. This includes important information to the due diligence process, and narrative comments related to local market conditions.
Lenders needing BPO services Click Here!
Los Angeles Branch
Servicing L.A. County
HQ's-2393 Pacer Dr.
Norco, CA 92860
ph: (323)375-9788
fax: (323)927-1673
alt: (323)632-2868
info
