Agency
What is a 'broker price opinion' (BPO) and can Hawaii agents provide them?
AA. A formal appraisal performed by a licensed broker; only brokers may provide them
BB. An estimate of a property's probable selling price prepared by a licensed real estate agent; permitted in Hawaii but not a certified appraisal and cannot be used for mortgage lending✓ Correct
CC. A government-issued price guide for specific neighborhoods
DD. A BPO is identical to an appraisal; the terms are interchangeable in Hawaii
Explanation
A Broker Price Opinion (BPO) is a professional estimate of probable selling price prepared by a licensed real estate agent or broker. In Hawaii, BPOs are used for purposes like estate settlements, loan modifications, and REO pricing but cannot be used as a substitute for a certified appraisal for mortgage lending.
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