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Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud. “We We started to hear a lot about seller impersonation fraud early on in the year,” Tyler Adams, the CEO of CertifID, said. “We Oftentimes this leads to the discovery of vacant lots. million, according to NAR.
Remember, in general, market value is defined as the most probable price a property should bring in a competitive and open market. This definition requires an arm’s length transaction with each of the parties acting in their own best interests. The seller and buyer have a connection by marriage, family, work, etc.
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. As a seller, this can help to ensure that buyers have the actual cash they are claiming they have.
AGENT VS. REALTOR: WHY THE DIFFERENCE MATTERS Often, we hear the terms “real estate agent” and “REALTOR ®” being used synonymously. To the everyday buyer and seller , they may not think there is much of a difference between the two. MLS is an extensive database of properties on the market.
Be ready to explain to home buyers and sellers why there may be conflicting reports on a home’s livable space. Many characteristics affect the appeal, marketability, and value of a property. Be sure to be informed when talking to buyers and sellers about the spaces within a home. Why Do Square Footage Disputes Arise?
They included appraisers, real estate agents, and someone with a week, a month, or online video training. They should definitely not be paid the same. Using MLS photos is a joke, as real estate agents don’t take photos of defects. A buyer gets a seller’s disclosure statement for that information.
percent from one week earlier Appraised Value Vs. Sale Price Excerpts: Propertysellers often ask professionals who are performing appraisals for mortgage lending, “Why is an appraisal even needed? The $450,000 price is what the property is actually selling for. To read more, Click Here My comments: Definitely worth reading.
In a July 9, 2015, Concept Paper – Alternate Track to the Experience Requirements in the RealProperty Appraiser Qualification Criteria, the AQB asked: “Are there practical alternatives for some (or all) of the appraisal experience requirements to include non-appraisal experience?”. Appraisers are real estate reporters.
This statement definitely applies in the appraisal of realproperty. There is demand, and marketing can definitely help. That means that the market is losing buyers looking to move up and losing sellers looking to move up, so this lock-in effect is constraining both sides of the market. Sometimes it is.
Understanding Market Value Market value is the most frequently sought value in realproperty 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.
Examples include automated valuation models (AVMs), broker price opinions (BPOs), and desktop appraisals, streamlining the process and offering cost-effective solutions for real estate transactions. They also automatically look at data about properties and past sales, so there’s less work done by hand.
Speaking of surprises, a recent Zillow analysis finds most states don’t require sellers to disclose paranormal activity in the home they’re selling. A spine-tingling 12% of successful homebuyers say their home is definitely haunted, while an additional 17% say their home may be harboring spirits.
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