Key Takeaways
- Independent BPOs provide a cost-effective reality check on your own valuation analysis.
- Never purchase without physical inspection—data cannot reveal interior condition or environmental issues.
- Set value-to-cost limits (e.g., 95% of independent value) to prevent systematic overpaying.
- Peer review catches cognitive biases and calculation errors that self-review misses.
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Test Your Knowledge
1.For Valuation Controls and Quality Assurance, which valuation approach is typically given the most weight?
2.How should investors handle conflicting results from different valuation approaches?
3.What role does market knowledge play in property valuation accuracy?