CoreLogic has rolled out a new broker price opinion (BPO) evaluation service designed to help capital market investors and due diligence providers assess the quality of BPOs completed by other BPO vendors that are used in portfolio acquisitions.
Dubbed BPO Review, the service is ideal for post-award in the pre-settlement/due diligence process, CoreLogic states in a release. The company is positioning it as a less expensive and faster alternative to ordering BPOs on every property within a portfolio.Â
The new service delivers both a judgment-based assessment of accuracy from trained industry professionals as well as data-validated scores for the primary quality elements.
Through this service, investors and due diligence providers can quickly ascertain whether there was a disagreement with the estimated sale price, what the issue was and how it was resolved.
Each BPO is scored for the quality of its comparables selection, price accuracy, property complexity and overall risk. CoreLogic claims the service delivers a typical turnaround time of three or less business days.
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