AppraisalsHomebuying Glossary
Broker Price Opinion
Also known as BPO
A real estate professional's estimate of value, often used by lenders as a faster, cheaper alternative to a full appraisal.
In plain English
A BPO is prepared by a licensed real estate broker or agent rather than a certified appraiser, and is commonly used for refinances, foreclosures, or internal lender decisions where a full appraisal isn't strictly required.
Why it matters
As a buyer, you're unlikely to order one yourself, but you may see the term if you're selling a home or going through certain refinance processes.
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