Property Valuation
In NC, a Broker Price Opinion (BPO) is most commonly used for:
AFormal mortgage lending purposes
BLoss mitigation, foreclosure valuations, and REO (bank-owned) pricing by lenders✓ Correct
CEstate tax valuations
DNew construction pricing
Explanation
BPOs are informal market analyses prepared by real estate brokers, commonly used by lenders for loss mitigation, short sales, and REO pricing — they are not formal appraisals and generally cannot be used for purchase money mortgage lending.
Related North Carolina Property Valuation Questions
- The 'assemblage' of multiple smaller parcels into one larger parcel may create 'plottage value' because:
- An adjustment in the sales comparison approach for a feature the subject property HAS but the comparable does NOT have requires the appraiser to:
- In the cost approach, what does accrued depreciation include?
- In the cost approach, 'reproduction cost' differs from 'replacement cost' in that:
- In NC, county property tax assessments are supposed to reflect what percentage of market value?
- A NC appraiser performing a 'retrospective appraisal' is estimating the value of a property:
- External (economic) obsolescence in real estate is characterized as:
- In the cost approach, 'land value' is estimated separately because:
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