Appraisal Buzz

JULY 18, 2022

Assuming a $250,000 loan was committed on December 31, 2021, your monthly payment was approximately $1,007 exclusive of escrow for real estate taxes and insurance. Market value may actually exceed the sale price in most instances if you can support that the seller is acting imprudently – and inconsistent with the definition of market value.

Sellers 435

Sellers Marketing Market Value Home Value 435

Housing Wire

JUNE 30, 2021

ServiceLink, which is backed by Fidelity National Financial, meets the unique needs of wholesale lenders by providing title insurance, appraisals, flood certificates and closing services. Our EXOS Title technology offers accelerated title decisioning and a definitive clear-to-close timeline in seconds.

Valuation 221

Valuation Client Relationships Inspection Clients 221

Appraisal Buzz

MAY 31, 2021

Only the wife was at home to greet the appraiser when they arrived to inspect her home. These color codes were designed to indicate where it was safe to insure mortgages. Anywhere African Americans lived or lived nearby, were colored red to indicate that these neighborhoods were too risky to insure mortgages.

Valuation 370

Valuation Appraisal Real Estate Insurance 370

Housing Wire

APRIL 22, 2024

Perhaps they don’t receive strong enough offers or struggle to address issues that arise at home inspection. Definitely include a business card in the envelope, as your information won’t be printed on the letter itself. I also know that many For Sale By Owner sellers hit a point where they aren’t sure what to do.

Real Estate 467

Real Estate Open Houses Brokerage Real Estate Agent 467

Town & Country Residential Appraisals

JULY 18, 2022

Inspection: careful examination or scrutiny Observation: the action or process of observing something carefully in order to gain information While the definitions are close, inspection seems to indicate a more detailed way of looking at something just by the words “examination” and ”scrutiny”.

Inspection 45

Inspection Appraisal Law Insurance 45

The Robert Weiler Company

AUGUST 18, 2021

The definition reads as follows: “a large building where raw materials or manufactured goods may be stored before their export or distribution for sale.”. But in returning to our Oxford definition, warehouse space is essentially a place to store goods. Now you have your definitions straight. Jolly good, right ?

Real Estate 148

Real Estate Logistics Landlords Supply Chain 148

McKissock

JULY 26, 2022

Timeliness and types of inspections. Property insurance. While there may or may not be a definitive time limit in each state (such as 24 hours), it is in everyone’s best interest to submit the offer as soon as possible. because they feel the offer price is too low, too many repairs or inspections are requested, etc.),

Real Estate 81

Real Estate Counter Offer Inspection Buyers 81

Movoto

SEPTEMBER 23, 2024

The post Seller Concessions: Definition, Examples, & Loan Types appeared first on Movoto Blog. Use our online calculator to estimate your closing costs. Whether you’re on the buying or selling side, be sure to explore all the resources on Movoto to prep you for your big move.

Sellers 36

Sellers Buyers HOA Property Taxes 36

Zillow

SEPTEMBER 19, 2019

Homeowners insurance and closing costs , like appraisal and lender fees, are typically easy to plan for because they’re lumped into the home-buying process, but most costs beyond those vary. When purchasing a home, definitely hire a home inspector (this costs money too!) Related: Insurance FAQs for First-Time Home Buyers.

Insurance 80

Insurance Buyers Landlords Inspection 80

The Robert Weiler Company

APRIL 15, 2022

Indemnity and Insurance. And the landlord pays for all operating expenses, such as maintenance, property taxes, and insurance. property taxes, insurance, building maintenance, utilities, janitorial services, and property management fees). Taxes and Assessments. Compliance with Laws. Maintenance and Repairs. Damage to Premises.

Tenants 144

Tenants Landlords Property Taxes Real Estate 144

Assurance Financial

APRIL 29, 2021

If you plan to buy a home or refinance an existing mortgage, you’ll likely encounter mortgage loan terms and definitions that may be unfamiliar — especially if you’re buying a house for the first time. Use the home loan glossary below to get familiar with terms and definitions that might be new to you. Home Inspection.

Mortgage 69

Mortgage Insurance Inspection Sellers 69

Appraisal Today

SEPTEMBER 22, 2023

To me, the big issue is who is doing the inspections. They should definitely not be paid the same. Most of the inspection training we receive as appraisers happens in the field. The guy I followed around on appraisal inspections didn’t really take the time to explain what he was doing. Inspection training was very good.

Appraisal 90

Appraisal Training Inspection Real Estate 90

Appraisal Today

MARCH 15, 2024

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = USPAP does not require use of the specific term “personal inspection”. Answer: No.

Appraisal 72

Appraisal Inspection Modernization Business 72

Will Springer Realtor

SEPTEMBER 19, 2023

Unexpected flooding caused major problems for Mabél Guzmán, a real estate broker in Chicago: “I moved into a townhouse that was not even near a flood zone and didn’t require flood insurance,” she says. “I Property owners outside of high-risk flood areas file more than 20% of all claims with the National Flood Insurance Program.

Insurance 47

Insurance Inspection Real Estate Buyers 47

Assurance Financial

MAY 18, 2022

It guarantees or insures the FHA loan program. Since private lenders have insurance from the FHA, they are more likely to lend money to people who wouldn’t qualify for a conventional mortgage. In exchange for looser requirements and government insurance, FHA loans require borrowers to pay mortgage insurance.

Insurance 69

Insurance Government Mortgage Sellers 69

Appraisal Today

OCTOBER 13, 2023

However, based on the definition of misleading in the prior version of USPAP, many appraisers were concerned they could be disciplined for minor, unintentional reporting errors. In response to these concerns, the ASB retired this definition from USPAP for 2024. That is the Question!! can add up. What are your total annual fixed costs?

Appraisal 84

Appraisal Law Contracts Business 84

Listing Spark

DECEMBER 9, 2020

It is more than likely that if you are selling a residential home in Texas the buyer is going to ask you (home seller) to pay for the title insurance policy. The title insurance premium is set by the Texas Department of Insurance and will be the exact same at any title company you choose.

Sellers 69

Sellers HOA Insurance Contracts 69

Town & Country Residential Appraisals

APRIL 25, 2022

As an appraiser qualified and approved to complete appraisal assignments for loans that are insured by FHA, USDA and the VA, there are a number of repairs that come up regularly that definitely prolong the process and cost the borrower additional fees.

Insurance 51

Insurance Appraisal Inspection Construction 51

Boston Appraisal

JANUARY 12, 2024

They also face legal, regulatory, tax, insurance, and maintenance issues that may affect their value and profitability. The operating expenses are the total amount of money that the property spends on maintaining and operating the space, and they include costs such as utilities, taxes, insurance, repairs, maintenance, and management.

Appraisal 60

Appraisal Real Estate Legal Insurance 60

Aedis Appraisals

AUGUST 17, 2017

If you are looking for a fast, accurate real estate appraisal in Toronto , you’d be wise to work with professionals trusted by lenders, legal specialists, insurance companies, and those in the market for a private purchase or sale. It’s also important to set a definite time that is convenient for all involved and to stick to that schedule.

Real Estate 36

Real Estate Appraisal Inspection Appraisal Process 36

PennyMac

JULY 25, 2022

Conventional loans by definition are loans that are not backed or insured by any government entity. However, if you don’t want to deal with mortgage insurance, you’ll need to bump that up to about 20%. Possibility of no mortgage insurance. Mortgage insurance required for lower down payments. Conventional Loan.

Insurance 36

Insurance Government Investing Mortgage 36

Will Springer Realtor

MARCH 30, 2021

They are definitely being earnest with a strong deposit amount. Most offers include language that would require sellers to return those funds should they either default, terminate the offer or cannot provide insurable title. Do buyers really need to include contingencies for home inspections and financing? (I

Inspection 36

Inspection Sellers Buyers Real Estate 36

Appraisal Today

MAY 26, 2023

Cosmetic repairs Examples MPR repairs Examples Conditions that require inspection Examples To read more, click here My comments: If you do FHA appraisals, read this blog post. I quit doing FHA appraisals in the mid-1980s because of the inspection requirements compared to conventional appraisals, that did not have the requirement.

Easement 52

Easement Contracts Appraisal Inspection 52

Listing Spark

FEBRUARY 6, 2023

” [00:02:55] Changes to the TREC One to Four Contract Explained TREC’s new definition of “cash” in the one to four contract states that the cash portion of the sales price does not include proceeds from borrowing of any kind or selling other real property except as disclosed in this contract. It’s never as-is.

Contracts 36

Contracts Real Estate Sellers Buyers 36

Assurance Financial

MAY 4, 2022

Common fees that contribute to the closing costs include, but are not necessarily limited to, appraisal and inspection fees, application fees, origination fees, mortgage and title insurance fees, early repayment fees and discount points — some of which are more avoidable than others. Inspection/appraisal fees.

Mortgage 36

Mortgage Insurance Inspection Legal 36

Appraisal Today

SEPTEMBER 13, 2024

My advice: Always check what plan and updates were actually built when doing final inspection. OPTION #1: Ignore the call or letter OPTION #2: Handle the situation on your own OPTION #3: Contact your E&O insurer for advice and guidance Neither Option #1 nor Option #2 is a good approach to take in this situation. What should you do?

Construction 74

Construction Appraisal Contracts Mortgage 74

Listing Spark

MAY 26, 2023

With careful planning and the right resources, finding your dream home at the right price is definitely possible. FHA Loans: Insured by the Federal Housing Administration, these loans offer lower down payments and are popular among first-time homebuyers. The demand for homes in Texas is quite high in 2023, pushing the prices upward.

Real Estate 36

Real Estate Housing Market Inspection Sellers 36

The People's Appraisal Blog

JUNE 15, 2019

My blogs range from being overcharged for appraisals so the middle man (the appraisal management company or AMC) can make money, lenders still pressuring appraisers to hit a value, and now having untrained and unlicensed people perform inspections (see my last blog entitled “Deception”). If not, here is a quick synopsis.

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Training Valuation Appraisal Inspection 36

Appraisal Today

SEPTEMBER 30, 2022

As it turns out, both the appraiser and the home inspector had each independently inspected the home 18 months prior and both mistakenly reported a few of the smoke alarms present at the home, as CO detectors. I request any reports, such as termite or home inspection, even old reports, but rarely get them. I never use the terms.

Appraisal 52

Appraisal Inspection Easement Contracts 52

Assurance Financial

SEPTEMBER 20, 2021

It’s important to note that any down payment under 20% normally requires mortgage insurance. However, if you put down more than 20%, you don’t need insurance. Your down payment has a direct impact on your mortgage’s loan-to-value ratio (LTV) and private mortgage insurance. What Is Private Mortgage Insurance?

Insurance 36

Insurance Mortgage Buyers Government 36

Listing Spark

NOVEMBER 11, 2022

Who is agreeing to pay for title insurance? Option period duration (typically 5-10 days depending on the scope of inspections needed). The option period is the time frame in which the buyer does their due diligence and completes their inspections of the home. Down payment amount. Title company and escrow officer. Closing Date.

Realtors 36

Realtors Contracts HOA Sellers 36

PennyMac

APRIL 18, 2022

Rental insurance is inexpensive. May be required to allow landlord access to home for inspections. While your financial picture is not the only deciding factor in the rent vs. buy debate, it’s definitely among the most important. Renters insurance is far cheaper than homeowners insurance.

Landlords 36

Landlords Property Taxes HOA Insurance 36

Appraisal Today

MAY 12, 2023

Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. They are definitely dedicated. They got large payouts.

Appraisal 52

Appraisal Architecture Business Contracts 52

Clear Capital

DECEMBER 14, 2021

So, yeah, it definitely is increasing the rate that people are tapping into that, and that seems like it’s just gonna keep growing. That’s definitely better than the first babbling nonsense that was disguised as a joke. We don’t wait for an inspection to have happened. Jeff Allen . It’s not relevant.

Real Estate 69

Real Estate Mortgage Agents Business 69

Appraisal Today

NOVEMBER 20, 2022

Failures to personally inspect and photograph comparables. This is definitely not a repeat of 2008. ==. This week I had a long conversation with a local agent about an insurance office converted to a home near where I live. It was in a 100% residential area and was definitely misplaced. What’s happening now.

Appraisal 52

Appraisal Real Estate Agent Real Estate Contracts 52

Will Springer Realtor

AUGUST 9, 2022

RECESSIONS AND MORTGAGE RATES Recent data and the traditional definition show we are now in a recession even though there is debate among economic and political folks. when, on July 28, the Commerce Department reported its second consecutive quarter of GDP declines – the common definition of a recession. Will prices continue to fall?

Inventory 36

Inventory Buyers New Listings Construction 36

Appraisal Today

SEPTEMBER 23, 2022

Insurance companies. ” “Inspections in a rural area put me on the road up to 200 miles in one day. Definitely a conflict. Done for divorce and sometimes for estates. Plus: Good fees, paid in advance. Minus: You may need to go way back in time. Be sure to charge extra. Before and after being damaged or destroyed.

Appraisal 52

Appraisal Marketing Business Appraisal Process 52