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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.
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.
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.
Gotta keep that money coming into the Appraisal Foundation, I guess… I really hated the classes when there was not much to say except a rehash of the past. It was my favorite class as we could focus on issues in our current market. Of course, now there is appraiser discrimination, the current hot topic.
Real Estate-Owned (REO) properties are distressed homes acquired by lenders after failed auctions. Sold below market value, they often require significant repairs. Purchasing through channels like HUD Home Store or MLS requires understanding their unique characteristics and buying processes.
Any time an appraiser chooses to rely on data, the appraiser must determine if there is any reason to mistrust the information; so, the training, expectations, and scope of the inspectors should be understood by the appraiser, in order to properly understand and communicate what assumptions were made.
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