North Dakota License Law
Which of the following is true about a broker price opinion (BPO) in North Dakota?
AA BPO may be used in lieu of a certified appraisal for all mortgage transactions
BA BPO is an estimate of value provided by a licensee but is not a formal appraisal✓ Correct
COnly appraisers may perform BPOs
DBPOs are illegal in North Dakota
Explanation
A Broker Price Opinion (BPO) is an estimate of a property's value prepared by a real estate licensee. It is not a formal appraisal and cannot substitute for a certified appraisal in federally related mortgage transactions.
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