BPO Reports

Heartland Valuation Services uses our national network of quality real estate brokers/agents that have years of experience and are continuously monitored for quality and service levels. Heartland Valuation Services can custom tailor a BPO to your guidelines.

BPO’s are used by mortgage lenders, banks, credit unions and others to value a property in the current real estate market. Uses might include:

Refinancing a recent mortgage
REO property (Real Estate Owned property)
Foreclosures
Short sales
An addition or a cross check to an appraisal
Due diligence for Financial Institutions
A selling/purchase price for a portfolio of home loans (capital markets transaction)

The commonly accepted standards and best practices for BPOs in real estate are the BPO Standards and Guidelines (BPOSG). The BPOSG were established by the BPO Standards Board, which consists of BPO industry leaders, experts and real estate professionals, in conjunction with the National Association of BPO Professionals. These widely accepted BPO standards ensure ethical and consistent BPO valuations.

BPO standards help maintain high quality valuations by setting clear expectations and guidelines for brokers/agents conducting BPOs. The BPOSG establish expectations for:

Ethical conduct and competency
Photo requirements and guidelines
Comparable selection and use
Definitions and applicability of market, property and neighborhood terms
Ethical conduct and competency
Photo requirements and terms
Comparable selection and use
Definitions and applicability of market, property and neighborhood terms