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A qualified appraiser will compare recent sales of similar localproperties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value. Should the appraisal come in lower than the contract price, the closing process may be impacted.
Market Condition Adjustments Illustration Fannie Mae guidelines emphasize that adjustments made to comparable sales are based on market changes between the contract date of the comparable sales and the effective date of the appraisal. This is shorthand that every experienced appraiser knows and understands please dont @ me.
If it is clear that you will need to move closer to your loved one, then you need to start looking at localproperties to find a home that will suit your needs. Even if you cannot move right next door, you should at least try to find a house in the neighborhood. – Birmingham Appraisal Blog. Finding a New Home.
Q: How have market conditions, such as shifts in interest rates or the overall economy, impacted the property preservation landscape this year? This year, rising interest rates have moderated the housingmarket, reducing foreclosure volume and impacting the demand for property preservation services.
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