Nevada

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State Bill Favors Appraisals in Origination 

Jun 09, 2009By

The Nevada State Senate’s passage of SB 184 redefines the way broker price opinions are used in real estate valuations in the state. The law, signed today by governor Jim Gibbons, allows broker price opinions (BPOs) for a number of specified purposes including the listing of real property for sale and by potential lienholders on a property. The stipulations eliminate room for BPOs to be used in lieu of an appraisal in determining whether to approve a mortgage loan.

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