Virginia Real Estate Exam Practice Question
Who generally requests a brokers price opinion (BPO)?
Correct Answer: D
Rationale: A broker's price opinion (BPO) is typically requested by a real estate broker for a lender. This is because lenders often need a cost-effective assessment of a property's value to make informed decisions regarding loans or foreclosures.
Option A, a buyer, may seek a BPO but is not the primary requester. Option B, an appraiser, conducts formal appraisals rather than BPOs. Option C, while a real estate licensee may request a BPO, it is usually done on behalf of a lender, making this option less accurate in the context of who generally requests one. Thus, D best represents the typical requester of a BPO.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now