A Broker Price Opinion is the estimated value of a property as determined by a real estate broker or other qualified individual or firm. Banks and lenders use broker price opinions to determine the current value of a property before refinances and as part of the foreclosure process.
Some factors that a broker will consider when pricing a property include: the value of comparable properties, current market trends, repairs and make ready costs associated with preparing the property for sale.
Some factors that a broker will consider when pricing a property include: the value of comparable properties, current market trends, repairs and make ready costs associated with preparing the property for sale.
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