valuation

Broker Price Opinion (Arkansas)

Under Ark. Code §17-42-110, an Arkansas licensee may prepare and charge a fee for an estimate of a property's probable selling price for a seller, buyer, third party, or lienholder. It may not be the primary basis for valuing a principal residence in a residential mortgage origination. A BPO may not use the terms 'market value,' 'appraised value,' or 'appraisal,' must carry a 14-point bold disclaimer that it is not an appraisal, and a copy must go to the principal broker.