What is a broker's appraisal?
What Is a Broker Price Opinion of Value? A broker's price opinion of value and an appraisal each provide a way to assess the estimated market value of a property. A broker's price opinion of value, in the context of this article, refers to a licensed California broker's evaluation of a property's worth.
Is a broker the same as an appraiser?
A broker's opinion may include an exterior inspection of the property and current and recent comparable home sales and listings. Appraisals provide more information about the surrounding neighborhood and external factors impacting a home's value.
Is a BPO better than an appraisal?
Similar to a home appraisal, a broker price opinion helps establish what your home is worth. But a broker opinion of value is considered less accurate than an appraisal and may not be allowed to substitute for an appraisal.
Can the broker talk to the appraiser?
3. Can I speak to the appraiser? Yes! Regulations allow real estate agents, or other persons with an interest in the real estate transaction, to communicate with the appraiser and provide additional property information, including a copy of the sales contract.