Appraisal Buzz

JUNE 6, 2022

You should never agree to do an appraisal, much less quote a fee, without first clarifying each of these six elements. They have that much variance in what they demand of the appraisal process. But the other problem is that it undercuts the contract you’re entering when you agree to perform the appraisal.

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Appraisal Clients Inspection Appraisal Process 221

Riverfront Appraisals

JULY 29, 2021

This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process. So far, we’ve covered communication with the appraiser, reconsiderations of value, FHA appraisals and a few other topics you should definitely go check out.

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Reconsideration of Value Appraisal Appraisal Process Loan Officers 100

Realtor

SEPTEMBER 19, 2023

A good understanding of the home appraisal process will go a long way toward comprehending how your home’s value is determined. First, a home appraiser will pull comparable listings (called “comps”) from the nearby area. This usually takes at least a few days — and definitely more than a few hours.

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Appraisal Sellers Real Estate Agent Appraisal Process 189

Appraisal Buzz

MAY 31, 2022

The first includes development and use of processes to ensure regulatory and policy requirements are being upheld by the business unit originating mortgage products. report, part of a report, or some combination of these) that was performed as part of an appraisal or appraisal review assignment.”

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Real Estate Valuation Lending Appraisal 221

Appraiserblogs

JULY 24, 2024

The HousingWire article highlighting that only 40% of homes sold include an “accurate” appraisal, as defined by the Corporate Settlement Solutions (CSS) report, is deeply problematic and indicative of a concerning lack of understanding around the appraisal process.

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Appraisal Appraisal Process Market Value Marketing 130

AmeriMac

MAY 30, 2024

In this comprehensive guide, we will delve into the world of desktop appraisals, exploring their definition, key characteristics, and the differences between desktop and traditional appraisal. Desktop appraisals are especially common in cases where homeowners are seeking home equity loans or refinancing their mortgages.

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Appraisal Process Appraisal Inspection Real Estate 36

Cleveland Appraisal Blog

SEPTEMBER 2, 2022

What does the appraiser do with the three different values that may be developed? The appraiser must now reconcile these three values into one final opinion of value. One definition of the word reconcile in Dictionary.com is “to bring into agreement or harmony; make compatible or consistent.”

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Appraisal Development Valuation Market Value 337

McKissock

MAY 14, 2023

Report writing is an essential step in the appraisal process. Want a quick breakdown of everything that belongs in a narrative appraisal report? for mortgage financing purposes or tax assessment appeal purposes) Identification/brief description of the property appraised Real property interest appraised (e.g.,

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Appraisal Appraisal Process Property Appraisal Real Property 87

McKissock

JANUARY 31, 2023

As part of our Question of the Month survey series, we asked members of our appraisal community, “What’s one thing you wish real estate agents knew about the appraisal process?” Thank you to the large number of appraisers who shared their input! ” “The definition of market value.”

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Real Estate Agent Real Estate Agents Appraisal 97

Housing Wire

JUNE 7, 2021

NAR, the MBA , and the Appraisal Institute all have efforts focused on removing bias in the industry and promoting diversity. This concern about racial bias is real, it definitely exists as identified by far too many scenarios, but it is not necessarily in the majority of transactions. The post Is the appraisal process color-blind?

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Appraisal Process Appraisal Decorating Valuation 493

Walitt Solutions

MAY 24, 2020

” Let’s take a look at this issue in a bit more depth, starting with the definitions of “client” and “intended user” from the 2020-2021 edition of the Uniform Standards of Professional Appraisal Practice (USPAP): CLIENT : the party or parties (i.e., What difference does it make?

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Clients Agents Appraisal Law 64

McKissock

MAY 20, 2023

Appraisers do not walk into a property and just know how much it’s worth. The inspection of the property is just one part of the appraisal process. Also, appraisers do not determine value. My supervisor always says, “Appraising is not a science, it’s an art.”

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Appraisal Real Estate Training Appraisal Process 97

The Robert Weiler Company

MAY 14, 2021

The following guide walks readers through all the definitional terms involved in the estate planning and real estate appraisal process (also referred to as an appraisal for estate planning purposes) and how best to prepare when, eventually, we will all boldly leave this Earth. What Does the Probate Process Look Like?

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Real Estate Appraisal Legal Valuation 133

Walitt Solutions

MAY 17, 2024

We know, for example, that an appraiser operating a drone while at his or her office could not claim to have performed a “personal inspection” of a property. subject property The defined term only relates to the property that is the subject of the appraisal.

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Inspection Appraisal Clients Appraisal Process 57

Housing Wire

DECEMBER 7, 2023

Full practice exams, quizzes with over 400 exam prep questions, on-demand course review videos, e-textbook, online note taking feature, Terms & Definitions, makeup for missed classes All features of online class + textbook. Classes meet 4 x per week for 2 weeks. All features of online class + textbook. Classes meet Sat. for 2 weeks.

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Real Estate Real Estate Agent Law Brokerage 429

McKissock

DECEMBER 1, 2020

Our goal is simply to provide illumination and help you understand the advantages and challenges of these appraisal services so that you can make well-informed decisions on whether to accept or reject a hybrid or bifurcated appraisal assignment. What is a bifurcated appraisal?

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Appraisal Inspection Appraisal Process Real Estate 58

Realtor

MARCH 7, 2023

This is definitely the case if you’re considering a USDA loan from the Department of Agriculture. The USDA home loan appraisal process To prove that a home meets the USDA’s criteria, all homes financed by USDA loans must undergo an appraisal.

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Inspection Appraisal Market Value Finance 111

Appraiserblogs

JULY 24, 2024

The HousingWire article highlighting that only 40% of homes sold include an “accurate” appraisal, as defined by the Corporate Settlement Solutions (CSS) report, is deeply problematic and indicative of a concerning lack of understanding around the appraisal process.

Appraisal 60

Appraisal Appraisal Process Market Value Marketing 60

Clear Capital

MARCH 4, 2022

The mortgage industry is on its way to modernizing the appraisal process. In early February, Fannie Mae and Freddie Mac, the government-sponsored entities (GSEs), incorporated desktop appraisals into their Selling Guides beginning in March 2022. What is a desktop appraisal? Desktop appraisal meaning and definition.

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Valuation Appraisal Inspection Appraisal Process 69

McKissock

JULY 20, 2021

The root of many misconceptions about the appraisal inspection is the word “inspection” itself. It’s somewhat of a benign definition, is it not? There’s nothing really scary there, yet many appraisers attempt to avoid confusion, and (potentially) limit their liability , by avoiding use of the word “inspection” entirely.

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Inspection Appraisal Construction Clients 105

The Robert Weiler Company

APRIL 20, 2021

As such, our experts at The Robert Weiler Company have put together this business valuation ‘questions and answers’ overview to offer more clarity behind the business appraisal process. The process, however, is much less straightforward than the definition. So, how are businesses valued? Scratching your head?

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Valuation Business Buyers Market Value 147

McKissock

JUNE 17, 2022

Rather, our intention is to provide appraisers with a sampling of currently-available remote property inspection tools so they can consider the potential benefits of integrating such tools into their appraisal process.

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Inspection Tools Appraisal Technology 75

AmeriMac

JANUARY 31, 2025

Understanding real estate appraisals is crucial in a changing market like New Albany, OH. With the help of professional appraisers, people can make better decisions and trust accurate property valuations when buying or selling their homes. Buyers rely on appraisals to ensure a fair price by estimating the property’s value.

Real Estate 36

Real Estate Appraisal Real Estate Agent Valuation 36

McKissock

JANUARY 22, 2021

An appraiser should realistically consider the time spent on the inspection process of a traditional full appraisal and compare it to a hybrid or bifurcated appraisal assignment for the same intended use, property type, definition and type of value, and the market area.

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Appraisal Inspection Valuation Development 63

Valuation Nation

OCTOBER 16, 2022

Until we get past this period over the next few months it may be hard to say definitively what is exactly happening. As an appraiser, it is super important to understand how to gather and analyze relative data. Appraisers: Use Your Tools. This is just part of what goes into a residential market analysis for an appraisal report.

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Real Estate Appraisal Marketing Inventory 116

McKissock

OCTOBER 23, 2020

Others will simply rely on a previous appraisal and call the appraiser to testify about it. Here are twelve types of expert witness assignments for appraisers. You must remember that USPAP prohibits an appraiser from using a contingent fee structure in any “appraisal practice” assignment. Condemnation.

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Appraisal Insurance Legal Development 77

Appraisal Today

FEBRUARY 16, 2024

Historical Properties and Their Unique Appraisal Approaches Excerpts: Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. For many years I appraised in the nearby city of Berkeley, CA. Keep the definition of intended users as narrow as possible.

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Appraisal Contracts Training Architecture 81

AmeriMac

DECEMBER 30, 2023

Understanding the process and implications of these appraisals is crucial for both homebuyers and sellers. This post will cover everything you need to know about REO appraisals. We will also discuss what happens if an REO appraisal is low and how it impacts property value.

Real Estate 36

Real Estate Appraisal Inspection Valuation 36

Birmingham Appraisal

SEPTEMBER 26, 2023

Inconsistent Results Outlier sales are, by definition, inconsistent with the majority of transactions in a market. Appraisal Challenges: Listings that were priced using outlier sales can pose challenges during the appraisal process. As such, they can lead to inconsistent and unreliable results.

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Real Estate Agent Real Estate Clients Agents 94

McKissock

OCTOBER 19, 2021

The presence of an additional living unit may complicate the appraisal process by making it difficult to know how to classify the subject property. 3rd, “Appraising Accessory Dwelling Units Simplified.” How do you know whether you’re dealing with an accessory dwelling unit (ADU) or a second unit?

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Legal Architecture Appraisal Design 71

Appraisal Today

AUGUST 25, 2023

On Friday, NAR put out a notice asking appraisal members in the affected areas to alert their non-member colleagues. It’s also impacting the appraisal process and is generating questions from both lenders and appraisers about what this means for appraisals on loans sold to Freddie Mac. Sold quickly.

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Appraisal Real Estate Agent Agents Real Estate 77

Chicagoland Appraisal Blog

MAY 13, 2021

Some appraisers work separately and have their own private businesses while others may work for a bank or an appraisal firm that employs many appraisers. . What Is the Home Appraisal Process? To begin the process of having your home appraised, you’ll need to select an appraiser and schedule their inspection.

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Appraisal Renovations Home Value Real Estate 88

Birmingham Appraisal

APRIL 11, 2023

11 Helpful Tips For Choosing Comps Whenever I speak to agents about the real estate market and the appraisal process the one topic that the discussion always leads to is about choosing comps. By definition, sales that are in a superior area would not be in a competitive market area.

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Realtors Bracketing Appraisal Buyers 92

Appraisal Today

FEBRUARY 28, 2025

The Appraisal Process: Valuing a Hobbit Hole Like Bag End The valuation process of Bag End takes some extraordinary assumptions, if we are to appraise the home as a residential property. That said, the appraisal of real estate clearly is not an industry. Tolkien, The Hobbit, “An Unexpected Party”).

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Appraisal Real Estate Contracts Training 55

Appraisal Today

OCTOBER 6, 2023

2024 USPAP Source: Appraisal Foundation The 2024 Uniform Standards of Professional Appraisal Practice is now available for purchase in physical and digital formats. This covers all Definitions, Rules, and Standards. It shows a fundamental lack of understanding of what appraisers do.

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Appraisal Contracts Real Estate Mortgage 78

Appraisal Today

DECEMBER 2, 2022

Counseling buyers, sellers, owners, and tenants on inspections and remediations, improvements, and the appraisal process. Completing Evaluations in compliance with the Interagency Appraisal and Evaluation Guidelines. Doing a national appraisal conference during the 2008 crash was risky but very much needed by appraisers.

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Appraisal Agents Real Estate Real Estate Agent 82

Aedis Appraisals

AUGUST 17, 2017

When you’re discussing appraisals or considering an appraisal of a residential property, time is also a major factor. A delay in the appraisal process can cost the lender important business and can cost the client if the process is not completed in a timely manner, while the interest rates are low, for example.

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Real Estate Appraisal Inspection Appraisal Process 36