Agency
A NC broker who is asked to provide a price opinion to a financial institution for a REO (bank-owned) property is providing a:
AFull USPAP appraisal
BBroker Price Opinion (BPO) — an informal market analysis, not a formal appraisal✓ Correct
CProperty inspection report
DCertified Residential Appraisal
Explanation
A BPO is an informal valuation by a real estate broker based on comparable sales analysis. It is not a formal appraisal and generally cannot be used for mortgage loan origination purposes.
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