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For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals.
Right now on our Appraisal Blog, we’re all about helping Loan Officers. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value and bracketing. […]. We’re halfway there!
Right now on our Appraisal Blog, we’re all about helping Loan Officers. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals.
Appraisers should consider learning more about desktop appraisals and the hybrid/bifurcated appraisal process and using remote inspection tools such as RemoteVal ,” she advises. The top ones are reconsideration of values, and growing prevalence of desktop appraisals. Want to contribute to our blog? Paul, Minn.).
They cannot base their value opinions on anything other than their own analysis of the market data and their professional judgment. If you choose not to be at the property during the appraisal inspection let the appraiser know you are available to answer any questions they may have.
Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. You can read more about property inspection waivers in a past article I wrote. Appraisal vs Home Inspection.
Our office updates AMCs on every scheduling attempt with details, every inspection appointment set and completion, and any materials needed ASAP in the assignment. Appraisers tend to get annoyed with constant emails from the AMC about inspection date, completion, report submission, etc. Reconsideration of value and Appraisers.
The sales can be considered during the development of the appraisal rather than after it is completed through a reconsideration of value which can delay the home buying process. I discussed this process in a previous blog post which you can read HERE. As always, thanks for reading.
AMCs Assuring that the appraiser has the correct contact information for an inspection is very important. There have been numerous instances in which I have not been able to get ahold of a contact for an inspection only to find out weeks later that the AMC gave me the wrong contact information.
To read more, including all the violations, Click Here My comments: The blog post is well written, relatively short, and worth reading, if only for reminders. Read on blog www.appraisaltoday.com/blog Posted by noon Friday. You can subscribe to the blog in the upper right of each blog page. baths, 19,660 sq.ft.,
You definitely needed to be nice, not rush through the inspection, dress professionally, etc. Read on blog www.appraisaltoday.com/blog Posted by noon Friday. You can subscribe to the blog in the upper right of each blog page. NOTE: the popular ads with liability tips are below the first topic on my blog posts.
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