BPO stands for “Broker Price Opinion” and is performed by real estate brokers to find the market value of a piece of property for sale. BPOs are used by mortgage lenders and banks to value a property in the current market and avoid the cost of an... An appraisal is the process taken by a licensed, professional, third-party appraiser to value a piece of real estate. Appraisals are done for many reasons, but typically the purpose is to find a fair market value. The most common type of appraisal is done in order to... An easement is a right that a person or entity has in the property of another person or entity. In other words, it is a right to use someone else’s property without owning that property. There are many different kinds of easements that exist for many different... An encumbrance is a right that burdens or diminishes the value of a property; it impedes it in some way. There are different kinds of encumbrances. Encumbrances can be both financial or non-financial in nature. They can also affect the properties transfer-ability or... A home inspection is a thorough visual inspection of the property. ALWAYS do one when purchasing an investment property and make sure it’s by a neutral, third-party, professional company. The American Society of Home Inspectors (ASHI) publishes... Escrow Companies are an independent 3rd party to a transaction that essentially oversees and monitors the contractual agreement. They also hold the funds in an independent Escrow Trust Account and disburse the funds upon a successful close of escrow based upon the... 