Remove Contracts Remove Definition Remove Real Property
article thumbnail

The Value of Words in Valuation

Appraisal Buzz

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. When reading contracts, words will always have their ordinary meaning unless defined otherwise. adjective.

Valuation 360
article thumbnail

Texas Real Estate Contracts and Addendums: A Guide for Home Sellers and Buyers

Listing Spark

Episode Summary In this episode, Aaron Jistel (Broker and Co-Founder at ListingSpark) focuses on how recent changes to Texas Real Estate Commission’s contracts and documents may affect home sellers and buyers. And so they put a little bit of a more defined definition of what cash needs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fannie and Freddie Release New Hybrid and Desktop Forms for Testing

McKissock

The GSEs have also aligned on guidance regarding the use of these test forms, including formal definitions for “Hybrid” and “Desktop” 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.

article thumbnail

Appraisal Value Vs. Sale Price

Appraisal Today

Because of the financial capabilities, motivations, or special interests of a given buyer or seller, the price paid for a property may or may not have any relation to the value that might be ascribed to the property by others.” The $450,000 price is what the property is actually selling for. It happened once with Cindi Chance.

article thumbnail

Types of Appraisal Values

Appraisal Today

Understanding Market Value Market value is the most frequently sought value in real property appraisals and can have various definitions. Most often, it is defined as the most probable price a property should sell for under typical conditions. Most appraisers use the “Fannie Mae” definition of market value.

article thumbnail

Are Appraisers Professionals?

Appraisal Today

At the center lies this crucial inquiry: Are only essential requirements included in the Real Property Appraiser Qualification Criteria? The 1007 was not designed for appraising single-family properties that are used as STRs. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.87

article thumbnail

Agent vs. REALTOR®: Why the Difference Matters

Lamacchia Realty

With this being said, it’s so important to understand exactly what a REALTOR® is and how they differ for real estate agents, before making this crucial decision. REALTOR® and Agent Basics: Let’s start by nipping the most common misconception in the bud: Not all real estate agents are REALTORS®!