Property Valuation
In Washington, a broker's price opinion (BPO) differs from an appraisal because:
AA BPO is always more accurate
BA BPO is performed by a licensed broker and is not subject to USPAP✓ Correct
CAn appraisal can only be done for foreclosure properties
DA BPO requires physical inspection while an appraisal does not
Explanation
A broker's price opinion (BPO) is prepared by a licensed real estate broker using market data. It is not a formal appraisal, is not governed by USPAP, and cannot be used in place of a certified appraisal for federally regulated lending transactions.
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