Property Valuation
In Kentucky, a Broker Price Opinion (BPO) is typically prepared by:
AA licensed appraiser
BA licensed real estate broker or agent✓ Correct
CThe county PVA
DA certified public accountant
Explanation
A BPO is prepared by a licensed real estate broker or agent (not a certified appraiser) and is typically used by lenders and servicers for property valuation in loss mitigation situations.
Related Kentucky Property Valuation Questions
- Regression is an appraisal principle that states:
- When a Kentucky appraiser's value conclusion is significantly lower than the contract price, the lender's underwriter will likely:
- The sales comparison approach is most reliable when:
- Accrued depreciation in the cost approach is the difference between:
- Plottage value refers to the increased value created when:
- In Kentucky, a property's 'as-is' value versus its 'as-repaired' value may differ significantly when:
- A Kentucky appraiser performing a drive-by (exterior-only) appraisal provides a report that:
- The gross rent multiplier (GRM) is calculated by:
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