A BPO, or Brokers Price Opinion, doesn't carry the weight of a
certified appraisal, or the price tag... A BPO can be just as accurate
as a full appraisal, or, riddled with inaccuracies.... intentional or
otherwise.
There are cursory drive-by BPOs, or more involved, interior BPOs.
Typically, when a mortgage loan is delinquent, in deefault, or at risk
of foreclosure, a BPO performed by a local real estate broker, or
broker's agent, is used by a mortgage loan servicer who needs to
confirm a property's occupancy status, and general market value.
During the course of a mortgage loan's delinquency and foreclosure,
drive-by BPOs with photo snap might be conducted monthly...
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