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These calculations are made using mathematical models and databases of residential information from public records. 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.
These calculations are made using mathematical models and databases of residential information from public records. 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.
What Is A Hybrid Appraisal? A hybrid appraisal is one that is done by involving more participants than just the appraiser. Rather than involve the appraiser in the data collection part of the appraisalprocess this part is done by someone else. Things To Consider With Hybrid Appraisals.
As this property data collector thing moves along, there continues to be no legitimate reason for Fannie Mae’s motivation to push this so hard other than they want the valuation process fully automated and can pay $25 for an untrained inspector to view a home. It shows a fundamental lack of understanding of what appraisers do.
These properties are typically owned by banks or government agencies, aiming to sell them quickly to recover losses. The unique circumstances surrounding REO properties require specialized handling during the appraisalprocess, considering factors like extensive repairs, market trends, and quick-sale pricing strategies.
Have the requirements of the Uniform Residential Appraisal Report (URAR, form 1040/70), the standard lending appraisal form since 2005, become so ingrained in valuation practice that valuers cannot imagine following other processes?
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