Free Pennsylvania Real Estate Practice Exam Practice Question
A broker price opinion of value may be used MOST appropriately when:
Correct Answer: B
Rationale: A broker price opinion (BPO) is primarily used to estimate a property's market value based on comparable sales and current market conditions.
Option B is the most appropriate use, as a BPO helps a relocation company set a realistic listing price for a property, ensuring it aligns with market trends.
Option A is misleading; advertising equity lines typically requires a formal appraisal rather than a BPO.
Option C is incorrect because removing private mortgage insurance requires an appraisal to verify home value, not just a BPO.
Option D is also inappropriate; while a BPO provides value insight, it cannot replace a formal appraisal needed for loan qualification.
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