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With the acquisition, Xactus will offer flood zone determinations to its clients by using its proprietary flood data and technology products, the firm said Wednesday. MassiveCert will be rebranded as Xactus Flood Solutions. The terms of the deal were not disclosed. Up until now, Xactus obtained data from third parties.
Realproperty appraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in realproperty appraisal is cause for concern.
In truth, human appraisers fill two vitally important roles today, (1) we collect information and (2) we analyze it so it can be presented to our clients. We should embrace that, even if most of the efficiency gains go to our clients while our jobs get more difficult, at least in the short term. We’ll have to do the same thing.
Appraisers are tasked with protecting the public trust, and yet, I have seen appraisers who knowingly and on an ongoing basis disregard facts and truth to provide reports with values or directions in values that advocate the cause of their client. Strong ethics is an irresistible treasure seen and felt by our colleagues and clients.
It is the work of a therapist and their client to carefully untie those knots. Of course, this applies to the work of real estate appraisal as well. Striving to look through the microscope of empirical thought, we must not forget that our subject is more than realproperty, it is real people.
The mate on the opposing side accused me of appraising the property at a value that favored my client. They felt my opinion of the market value of the marital property was too high based off of Zillow sales that they found. I recently appraised a home for a divorce. Of course, they didn’t accept my explanation. That’s okay.
With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a realproperty appraisal? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value? Isn’t that all that appraisers do?
Steps to become a supervisory appraiser Step 1: Meet the requirements Make sure you meet the minimum supervisory appraiser requirements outlined in The Appraisal Foundation’s RealProperty Appraiser Qualification Criteria as well as any additional state requirements that may apply.
As part of their appraisal modernization efforts, Fannie Mae and Freddie Mac (the GSEs) have issued test forms for Hybrid and Desktop appraisal assignments. These two terms are often used interchangeably by appraisers and clients, but under the GSEs’ new definitions, they are different types of assignments. Written by Dan Bradley.
Integrity Remain steadfast in your commitments, stay true to your word, and uphold your principles, even if this requires declining an appraisal assignment or future work with a client or their agent. Before delivering work to clients, conduct a thorough review to mitigate potential errors.
Possibilities include: Notify the client of potential for delays in delivery dates. As a side note, after much ado — the realproperty Standard 1 has only one word change in five years.) To read more, click here My comments: For decades, George has been trying to “modernize” how appraisals are done. A Man On a Mission!
From accusations of bias or discrimination to failure to disclose significant realproperty appraisal assistance, it can be really alarming if a licensing board reaches out and notifies you of a complaint. Failure to analyze the sales history of the subject property. By McKissock November 15, 2022. To read more, click here.
Maintain USPAP compliance – Confirm the ROV request came from your client, either directly or through the client’s AMC, acting as an agent for the client, or other party designated as an agent by the client. Get the relevant date of value from the client or client’s attorney. Excerpts: 2.
This satisfies the affordable housing element,” Al Salguero, realproperty division manager at the Orange County Assessor’s Office, told the publication. Going Above and Beyond with AMCs and Other Clients 5. specific rules on how to convert an ADU into a condo are being left up to each municipality. Networking With a Passion 2.
Soaring ceilings, expansive open spaces, & impeccable finishes, every detail reflects modern elegance. These clients have essentially mandated the use of this portal, leaving appraisers with little choice but to comply if they wish to continue receiving orders. baths, 21,927 sq.ft. acre lot, built in 2017 Nestled along 150 ft.
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