Absentee Owner - ANSWER Investors who buy income property and depend
on professionals to manage them. (page 4)
Appraisal - ANSWER An act of estimating an opinion of value on real
property. (page 5)
Appraiser - ANSWER A practitioner who has the knowledge and ability
necessary to estimate the value of an asset. (page 5)
Broker Price Opinion (BPO) - ANSWER Establishes the sale price of the
property in a short sale transaction since the licensee is typically acquainted
with the local market. The licensee will be asked to take a photo of the property
and complete a BPO report form provided by the lender. The report includes a
neighborhood analysis of similar properties along with local and regional
market statistics. BPOs are more comprehensive than a simple CMA, but less so
than an appraisal. (page 3)
Business Opportunity - ANSWER A real estate broker's listing and sale of
businesses (page 4)
on professionals to manage them. (page 4)
Appraisal - ANSWER An act of estimating an opinion of value on real
property. (page 5)
Appraiser - ANSWER A practitioner who has the knowledge and ability
necessary to estimate the value of an asset. (page 5)
Broker Price Opinion (BPO) - ANSWER Establishes the sale price of the
property in a short sale transaction since the licensee is typically acquainted
with the local market. The licensee will be asked to take a photo of the property
and complete a BPO report form provided by the lender. The report includes a
neighborhood analysis of similar properties along with local and regional
market statistics. BPOs are more comprehensive than a simple CMA, but less so
than an appraisal. (page 3)
Business Opportunity - ANSWER A real estate broker's listing and sale of
businesses (page 4)
