West Virginia License Law
Under WV Code Chapter 30 Article 40, a 'broker's price opinion' (BPO) may be prepared by a West Virginia licensee. A BPO is:
AAn appraisal that must comply with USPAP
BA written opinion of value prepared by a licensee, not an appraisal, typically for lenders or banks✓ Correct
CA formal CMA required by WVREC for all listings
DA state-certified property valuation replacing an appraisal for all mortgage purposes
Explanation
A BPO (Broker's Price Opinion) is a written opinion of a property's value or price prepared by a licensed real estate professional. It is NOT an appraisal and is not subject to USPAP. BPOs are commonly ordered by lenders for default-related transactions but may not replace appraisals for most mortgage originations.
Related West Virginia West Virginia License Law Questions
- How many hours of pre-license education are required before applying for a West Virginia broker's license?
- In West Virginia, a real estate team operating under a broker's license must:
- A licensee in West Virginia who fails to disclose a material fact to a buyer may face which of the following consequences?
- Which agency regulates real estate licenses in West Virginia?
- Under West Virginia law, a real estate salesperson license must be held under:
- Which of the following activities does NOT require a real estate license in West Virginia?
- Under West Virginia license law, a broker who receives an earnest money deposit must place it in the trust account within:
- A West Virginia real estate licensee who fails to complete continuing education by the renewal deadline will have their license:
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →