This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
A home inspector’s function is to study the structural, electrical, mechanical & plumbing in a home and document any problems or safety issues. Although the home appraiser will complete a rudimentary inspection of the subject property, it will be nowhere near as thorough as what a propertyinspector does.
As a buyer, seller, or real estate agent involved in a sales transaction it’s important to be aware of changes in how things are done that may affect you. An agent involved in the property inspection process may overlook defects that may affect the value that the appraiser would readily pick up on. What Is A Hybrid Appraisal?
In most parts of the country, sellers (and agents) are required to document any known defects - whether current or past - to potential buyers. But some sellers don’t play by the rules and will try to get one past a buyer. What do sellers disclose to potential buyers? When does the buyer receive disclosure statements?
Next month’s newsletter will have a lengthy article on the issues of the propertyinspector. I wonder how well the GSE AI works on rural appraisals, “one of a kind” properties, no permits, Highest and Best Use issues, and many more. The data collector qualifications need to be standardized. Each AMC sees it differently.
Appraisers must fully understand foreclosure processes, legal issues, and local market trends to set the correct market value for REO properties. They must carefully work through these challenges to provide fair value for lenders and potential buyers. Lease agreements in multi-family properties can also affect value and sale.
The data won’t be limited to what is gathered by propertyinspectors; however, appraisers’ data will also be in that mix. Purchase activity continues to lag despite this recent decline in rates, down 11 percent from a year ago, as potential buyers still face limited for-sale inventory and high list prices.”
We organize all of the trending information in your field so you don't have to. Join 9,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content