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In addition to the automated appraisal, we’re starting to see moves toward a hybrid appraisalprocess called bifurcation , meaning that a computer and a person complete the valuation. You have to make sure the person doing the desktop appraisal knows the local market– that’s your responsibility as a lender. Subscribe now!
In addition to the automated appraisal, we’re starting to see moves toward a hybrid appraisalprocess called bifurcation , meaning that a computer and a person complete the valuation. You have to make sure the person doing the desktop appraisal knows the local market– that’s your responsibility as a lender. Subscribe now!
Are you a real estate professional or mortgage lender looking to learn more about the home appraisalprocess? Let our experienced certified Virginia appraisal experts be the premier source of home appraisal knowledge for your market. Matt and Troy **PREMIER PRO TIPS** Access our best home appraisaltips.
We are sensitive to and understand all that must be in place regarding compliance issues in all disciplines of appraisal. It is essential to utilize qualified and trained individuals for all valuations. Dart Appraisal Discusses Appraisal Changes On Reverse Mortgages. Features & Impact on Commercial Appraisals.
Certification and Licensing Appraisal standards and regulations are vital to maintaining the integrity of the profession. It’s imperative to choose an appraiser who is certified and licensed in the state they appraise in. A licensed appraiser demonstrates commitment and accountability to their clients and the industry.
After completion, a report with findings and the final appraised value is given to the lender and borrower. Timeframes vary based on appraisal complexity and the appraiser’s workload. Here is an overview of the steps involved in a home appraisal: Lender orders the appraisal from a licensed appraiser.
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