Commercial Appraisal vs. Broker Opinion of Value (BOV): Which Do You Need?
Quick answer: A broker opinion of value (BOV) is a free or low-cost estimate from a real estate broker, usually to win a listing. A commercial appraisal is an independent, USPAP-compliant opinion of value from a state-certified general appraiser. Use a BOV to test the market; use an appraisal when a lender, court, the IRS… Read More