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Having worked with many different lending institutions completing new construction and planned renovation assignments, think of this article as a “best practices” reference to be shared with new lenders, credit analyst team members and borrowers navigating the commercial appraisalprocess for the first time.
Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that when appraising a realproperty, an appraiser must : (a) reconcile the quality and quantity of data available and analyzed within the approaches used; and. (b) The quote I am referring to is at the end of this clip.
Despite these radical changes, the business of America carries on, somehow, some way, including commercial real estate appraisal work. How has COVID-19 affected the appraisalprocess and the values of the various markets and submarkets of commercial real estate? benefit from our collective strength.
The two basic licenses are Certified Residential RealPropertyAppraiser and Certified General RealPropertyAppraiser. Residential appraisers may need an associate degree and commercial appraisers usually need a bachelor’s degree. Evaluate the appraiser’s experience.
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The recent expansion of appraisal waiver eligibility likely does not sit well with those poised to take on leadership roles in the next Trump administration, as it underscores creep from the GSEs missions.
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