Appraisal Buzz

JUNE 20, 2022

Real property 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 real property appraisal is cause for concern.

Appraisal 417

Appraisal Modernization Property Appraisal Real Property 417

Walitt Solutions

MAY 24, 2024

My market value conclusion came in below the purchase contract price. Now, a few weeks later, the parties have signed an addendum to the contract to match my value conclusion; the client has sent me that addendum. The client wants me to change my report to show the new amended contract price! What should I do?

Contracts 74

Contracts Appraisal Clients Market Value 74

McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? That’s the real reason why—because USPAP says so. When should we analyze the contract? Looking at the sales contract early on allows the appraiser to identify any “subject to” items or other conditions that could influence the value conclusion.

Contracts 64

Contracts Appraisal Market Value Real Estate 64

Housing Wire

NOVEMBER 30, 2023

Covers license law, real property, agency, state & federal laws, advertising, valuation, finance, real estate calculations, contracts & more + 15-hr Applied Real Estate Principles, an interactive course Leap Learning 60-hr Online Topics Package $419 60 of required 75 hrs. Self-paced.

Real Estate 448

Real Estate Real Estate Agent Realtors Law 448

Town & Country Residential Appraisals

MAY 8, 2023

According to Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP), we are required to analyze any contracts for sale. That's why it's important for the appraiser to receive a copy of the sales contract. By viewing the contract, the appraiser may be able to identify irregularities and comment on them.

Contracts 54

Contracts Appraisal Real Estate Property Appraisal 54

Appraisal Today

APRIL 2, 2023

What Do Appraisers Look For in a Sales Contract? Why must an appraiser be given a copy of the sales contract? That’s the real reason why—because USPAP says so. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.45 percent from 6.48

Contracts 52

Contracts Appraisal HOA Architecture 52

Simonson Real Estate

JULY 10, 2020

An appraisal is an objective, impartial, and unbiased opinion about the value of real property prepared by a State Licensed or Certified professional appraiser. When a property has longer-term leases in place, even at market rates and terms, the interest appraised is typically leased fee. Defining the Appraisal Scope of Work.

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Appraisal Process Appraisal Market Value Tenants 148

Housing Wire

APRIL 22, 2024

Those two courses are: Washington Real Estate Fundamentals (60 course hours). This course teaches you the essentials of working in real estate (laws, regulations, financial matters, etc). Topics include contract law, real estate as a career, real property ownership, rights, interests, land use controls, and more.

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Real Estate Tools Agents Real Estate Agent 458

Cleveland Appraisal Blog

MAY 26, 2023

DEPRECIATION Appraisers will measure the amount that the improvements have depreciated when appraising most types of properties. There are several methods that we use to make these measurements. It may save you some grief, and even money, in the long run. This week, I leave you with a funny video to make you smile. Have a great weekend!

Appraisal 301

Appraisal Real Estate Agent Real Estate Agents 301

Listing Spark

FEBRUARY 6, 2023

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. These changes will go into effect February 1st.

Contracts 36

Contracts Real Estate Sellers Buyers 36

GoForrmz

DECEMBER 5, 2024

Thankfully, technology will continue to play a pivotal role in not only advancing access and tools but also streamlining real estate processes and improving customer experiences. Digital form platforms allow real estate professionals to create, share, and sign documents securely and efficiently.

Real Estate 78

Real Estate Property Management Tools Clients 78

Housing Wire

OCTOBER 9, 2023

Prelicense Education Requirements The prelicensure coursework required to earn a broker license in Illinois consists of two courses that total 75 hours of study: A 60-hour course covering real estate broker concepts such as brokerage, contracts, real estate math, and real property A 15-hour course on broker applied real estate principles that applies (..)

Real Estate Agent 448

Real Estate Agent Real Estate Agents Brokerage 448

McKissock

JULY 29, 2020

He has been a practicing real property appraiser since 1987, and has been instructing and authoring appraisal courses since 1992. From 2004 to 2013, Dan was a member of the Pennsylvania State Board of Certified Real Estate Appraisers, serving for five years as vice-chairman and three years as chairman. Written by Dan Bradley.

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Modernization Appraisal Property Appraisal Clients 60

Eppraisal

FEBRUARY 7, 2023

Owning raw land has real potential along with its share of pitfalls. Whether you decide to hold it and sell when real property values climb or -- alternatively -- develop the lot to convey at a higher price, you are subject to forces of market, timing and competition. A good lawyer will see them coming.

Development 69

Development Sellers Legal Home Value 69

McKissock

SEPTEMBER 15, 2020

Failure to disclose significant real property appraisal assistance is another common violation. Believe it or not, sometimes trainees/applicants will send in the appraisal reports, and the trainee is not mentioned in the reports as having providing significant real property appraisal assistance. Written by Dan Bradley.

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Appraisal Property Appraisal Real Property Law 52

The Robert Weiler Company

OCTOBER 15, 2021

Another mistake – perhaps one of the more obvious (and, consequently, most detrimental) mistakes – is contracting the commercial property for sale in your personal name. Failing to confirm the commercial property’s compliance with building codes and regulations. retirement accounts) can be included as fair game in a lawsuit.

Investing 138

Investing Real Estate Tenants Investors 138

The Robert Weiler Company

SEPTEMBER 7, 2022

Consider this: Central Ohio homes under contract in June 2021 proved to be the best for the month and a record high for any month, ever! Offer a Land Contract: What is a land contract? A land contract is a legal agreement used to purchase real estate through owner financing. Don’t believe it’s time to sell?

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Marketing Real Estate Investing Retail 78

Appraisal Today

JULY 12, 2024

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

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Appraisal Design Contracts Business 69

Appraisal Today

SEPTEMBER 22, 2023

When I started in this business long ago, there was no such thing as a licensed appraiser or a certified real property appraiser. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.31 The average contract interest rate for 5/1 ARMs decreased to 6.42

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Appraisal Training Inspection Real Estate 88

Eppraisal

OCTOBER 28, 2021

Seller's Residential Disclosures The seller's residential disclosures that you'll most likely be filling out and signing are: a state residential real property disclosure report, a disclosure of information on radon hazards, a mold disclosure and a lead-based paint disclosure. You simply check "yes," "no" or "not applicable."

Inspection 36

Inspection Sellers Contracts Buyers 36

McKissock

AUGUST 11, 2020

Changing the appraised value simply for the purpose of meeting the contract sales price is not a good reason. Such an act might appear to make everybody happy, e.g., the lender/client gets to make a loan, the real estate agent gets a commission, the buyers get the house, etc. It has been updated slightly. Written by Dan Bradley.

Appraisal 64

Appraisal Clients Real Estate Law 64

McKissock

SEPTEMBER 10, 2020

The Dictionary of Real Estate Appraisal, 6th Edition defines intangible property as “nonphysical assets, including but not limited to franchises, trademarks, patents, copyrights, goodwill, equities, securities, and contracts as distinguished from physical assets such as facilities and equipment.”

Appraisal 54

Appraisal Valuation Real Estate Design 54

Appraisal Today

SEPTEMBER 20, 2024

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.” With over 16,000 members, AI is the largest real property professional association.

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Appraisal Business Contracts Real Estate 75

Appraisal Today

SEPTEMBER 1, 2023

As a side note, after much ado — the real property Standard 1 has only one word change in five years.) The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) remained unchanged at 7.31 The average contract interest rate for 5/1 ARMs decreased to 6.48

Appraisal 80

Appraisal Contracts Mortgage Real Estate 80

Hood Homes Blog

SEPTEMBER 23, 2019

SELLER’S DISCLOSURE OF PROPERTY CONDITION. (a) In the Contract. Usually, the listing agent uploads the seller’s disclosure to the MLS with the property listing so that it is immediately available to the buyer’s agent to send to the buyer. Texas Seller’s Disclosure Law. The Fort Hood Inspection.

Inspection 54

Inspection Sellers Law Agents 54

Empire Appraisal Group

JULY 1, 2021

Waiving the appraisal means the buyer will purchase the property regardless of the outcome of the appraisal, said Lynn Madison, trainer and CEO of Lynn Madison Seminars who currently serves on NAR’s Professional Standards and Real Property Valuation committees. “Be What Happens When the Appraisal and Purchase Price Don’t Match?

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Agents Appraisal Real Estate Realtors 78

Appraisal Today

DECEMBER 2, 2022

In a July 9, 2015, Concept Paper – Alternate Track to the Experience Requirements in the Real Property Appraiser Qualification Criteria, the AQB asked: “Are there practical alternatives for some (or all) of the appraisal experience requirements to include non-appraisal experience?”. The USDA share of total applications decreased to 0.5

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Appraisal Agents Real Estate Real Estate Agent 82

Appraisal Today

AUGUST 9, 2024

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. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.03

Appraisal 68

Appraisal Reconsideration of Value Insurance Market Value 68

Simonson Real Estate

DECEMBER 6, 2022

Leased Fee Interest – Defined as the ownership interest held by the landlord, which includes the right to receive the contract rent specified in the lease plus the reversionary right when the lease expires. When a property has longer term leases in place, even at market rates and terms, the interest appraised is typically leased fee.

Appraisal Process 78

Appraisal Process Real Estate Appraisal Renovations 78

Appraisal Today

JULY 5, 2024

The residential appraiser already has the knowledge and practical application of the fundamental appraisal process and practical experience valuing real property. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.03 percent from 6.93

HOA 66

HOA Appraisal Real Estate Contracts 66

Lamacchia Realty

DECEMBER 18, 2023

They consistently keep up with how the market is performing, trends, and property values. Additionally, they are well-versed in the complex legal aspects of a home sale or purchase and can assist clients in navigating contracts, disclosures, or any issues that may arise.

Realtors 71

Realtors Agents Real Estate Agent Real Estate 71

McKissock

DECEMBER 15, 2020

He has been a practicing real property appraiser since 1987, and has been instructing and authoring appraisal courses since 1992. From 2004 to 2013, Dan was a member of the Pennsylvania State Board of Certified Real Estate Appraisers, serving for five years as vice-chairman and three years as chairman. Written by Dan Bradley.

Appraisal 53

Appraisal Property Appraisal Contracts Real Property 53

McKissock

JULY 24, 2020

He has been a practicing real property appraiser since 1987, and has been instructing and authoring appraisal courses since 1992. From 2004 to 2013, Dan was a member of the Pennsylvania State Board of Certified Real Estate Appraisers, serving for five years as vice-chairman and three years as chairman. Written by Dan Bradley.

Appraisal 53

Appraisal Law Government Real Estate Agent 53

McKissock

SEPTEMBER 20, 2021

Article 4 prevents Realtors® from presenting offers, purchasing, or acquiring an interest in any property through self or family members, or the firm’s members and families, or any controlled legal entity without first disclosing their actual position to the “owner or the owner’s agent or broker” in writing before any contracts are signed.

Real Estate 58

Real Estate Clients Real Estate Agent Realtors 58

Appraisal Today

NOVEMBER 20, 2022

From accusations of bias or discrimination to failure to disclose significant real property 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.

Appraisal 52

Appraisal Real Estate Agent Real Estate Contracts 52

Appraisal Today

JUNE 24, 2022

Among the rights that come with real property ownership is the right to exclude others. When oceans, lakes, bayous, estuaries, rivers, streams, and ponds are involved, this right is a large part of what property purchasers are paying for. The average contract interest rate for 15-year fixed-rate mortgages increased to 5.05

Appraisal 52

Appraisal Contracts Mortgage Easement 52

Housing Wire

NOVEMBER 30, 2023

Real Estate Law: Covers Real Estate Law and Legal areas Impacting real estate professionals Examine the law of agency as applied to real estate brokers and sales personnel, law of fixtures, estates, mortgages and liens, OH license laws of Ohio, zoning & more. Athens Campus location.

Real Estate 448

Real Estate Real Estate Agent Law Inspection 448