Dictionary
B
Business Broker
Definition: A broker that specializes in the sale or lease of a business or business opportunity.
Pronunciation: ˈbiznəs ˈbrōkər
Used in a Sentence: We are going to hire a business broker to find a buyer for our business.
B
Broker’s Price Opinion (bpo)
Definition: A formal (written) opinion of value for a property determined by a broker.
Additional Information: Usually used for distressed properties such as short sales.
Pronunciation: ˈbrōkərs prīs əˈpinyən
Used in a Sentence: The lender would like a BPO of the property in question.
A
Absentee Owner
Definition: An owner of real property that does not live on the premises.
Additional Information: An absentee owner usually requires a property manager to maintain the premises.
Pronunciation: absənˈtē ˈōnər
Used in a Sentence: Due to an increase in demand for rental property, there has also been an increase in absentee owners.