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Listing agents have a clear motivation to provide information that might pad an appraisal. “If If the Realtor says there are hardwood floors throughout, and the appraiser puts that in the appraisal report and it’s not the case, that’s a problem,” Dicks said. Appraisers are also likely to balk at another pay cut.
A lot of the misconceptions about working with VA loans center on the VA appraisalprocess – which differs from conventional mortgageappraisals – as well as the time it will take for a transaction to close. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I
When the draft of the bill was approved by the NYS Board of Real Estate Appraisal , Carol DiSanto who is the Vice Chair, walked it across the street to The New York State Association of REALTORS (NYSAR). This is why we need consumer protection in the mortgage business. mortgageappraisal volume) for properties in New York State.
11 Helpful Tips For Choosing Comps Whenever I speak to agents about the real estate market and the appraisalprocess the one topic that the discussion always leads to is about choosing comps. Appraisers will use the most recent sales available so it stands to reason that agents should do this as well.
This can come in the form of a pre-listing appraisal to help establish a market-supported asking price for the seller. The appraisal can also give potential buyers peace of mind that the home is accurately priced and will most likely not have any value issues when the mortgageappraisal is performed.
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