Homeowners · Orange County
Appraisal vs Broker Price Opinion: Which One Do You Need?
How a licensed appraisal differs from a broker price opinion or an online estimate, and when the difference matters for Orange County families.
Mallinson Home Appraisers · Family-run since 1979
Three Ways to Put a Number on a Home
An online estimate comes from a computer model. A broker price opinion, or BPO, is a real estate agent's opinion of a likely sale price. An appraisal is an independent opinion of value by a licensed appraiser who follows national appraisal standards.
Why the Difference Matters
An agent's opinion is often aimed at pricing a listing. An appraiser has no stake in the sale and must support the value with documented comparable sales and analysis. That independence is why lenders, the IRS, courts and attorneys usually ask for an appraisal.
When an Appraisal Is Usually the Right Choice
Ask your attorney, CPA or lender which they will accept. In these situations, an appraisal is usually what they want.
- Date of death values and step-up in basis
- Trust and probate matters
- Divorce and buyouts between family members
- PMI removal through a lender
- Gift tax filings
When a BPO or Estimate Is Fine
If you are just curious about your home's value or planning a listing with an agent, a BPO or online estimate can be a useful starting point.
Talk to a Local Appraiser
Mallinson Home Appraisers is a family-run Dana Point firm that has served Orange County since 1979. Call 949.241.0310 to ask which report fits your situation.
Sources & Further Reading
General information, not tax, legal, engineering or insurance advice. Confirm your property's requirements with your attorney, CPA or the appropriate qualified professional.