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For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals.
Let’s examine eight different types of value and provide a high-level overview of each. Understanding Market Value Market value is the most frequently sought value in real propertyappraisals and can have various definitions. Most appraisers use the “Fannie Mae” definition of market value.
At the center lies this crucial inquiry: Are only essential requirements included in the Real PropertyAppraiser Qualification Criteria? In response, the AQB has recognized that this request is just one aspect of a broader inquiry. Such an approach would fail to account for FFE, other services, vacancy rates, and business expenses.
Binneys framing of the challenges that appraisers have faced around this thorny issue. Working RE is published for appraisers on both sides of the political aisle.) Appraisers being trapped in this is a big problem. . He was definitely an expert on the history of this topic. There is, perhaps, a silver lining.
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