Property Valuation
A broker price opinion (BPO) in Missouri is different from a formal appraisal because:
AA BPO is more reliable
BA BPO is prepared by a licensee and is not a certified appraisal; it is used for limited purposes like short sales✓ Correct
CA BPO requires an MAI designation
DA BPO uses the cost approach only
Explanation
A BPO is an informal price opinion prepared by a real estate licensee, commonly used for short sales or REO properties. It is not a certified appraisal and cannot be used to originate a mortgage.
Related Missouri Property Valuation Questions
- In Missouri, the 'cost approach' to appraisal estimates value as:
- Under Missouri's property tax assessment cycle, reassessments typically occur:
- The income capitalization approach values a Missouri property by:
- When appraising income-producing property in Missouri, the 'effective gross income' is:
- The principle of substitution in Missouri appraisal states that:
- Under Missouri property tax law, the assessment ratio for commercial property is:
- A Missouri appraiser uses paired sales analysis to:
- An appraisal report in Missouri must conform to standards set by:
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