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Updated almost 9 years ago on . Most recent reply

Jimmy Warr's profile image
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Jimmy Warr
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Jimmy Warr
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Jimmy Warr
  • Logistics Manager
  • Cordova, TN
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Contractors

What is a BPO

Jimmy Warr
  • Logistics Manager
  • Cordova, TN
Posted

BP, I am working with a Hard Money Lender to close on a small 8 unit building.

The lender has his on inspectors to perform a BPO. 

What does this inspection typically include ?

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Stephen Akindona
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Stephen Akindona
  • Investor
  • Memphis, TN
Replied

BPO is a broker price opinion and is less formal than a traditional appraisal report. A BPO is just when a licensed real estate agent gives you their opinion of fair market value. Usually will include photos and comps and you can hire an agent to do one anywhere from $50-$100.

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