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Today, we’re breaking down some of the new developments in appraisals, what they mean for your business, and tips to help you prepare. When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In some cases, it might be a person completing a desktop for the valuation.
Today, we’re breaking down some of the new developments in appraisals, what they mean for your business, and tips to help you prepare. When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In some cases, it might be a person completing a desktop for the valuation.
A home inspector’s function is to study the structural, electrical, mechanical & plumbing in a home and document any problems or safety issues. Although the home appraiser will complete a rudimentary inspection of the subject property, it will be nowhere near as thorough as what a propertyinspector does.
That’s why a complete home inspection is essential when looking at REO properties. Inspectors need to note any visible damage, check how well major systems are working, and estimate the cost of repairs. Delinquent property taxes in foreclosed properties can lead to additional financial burdens for buyers.
My talk focused on Property Inspections, which – to an outsider – might seem to be a straight-forward topic. However, given current changes in the valuation space, nothing is further from the truth: valuation, specifically the collection of data that supports a valuation method, has never been one-size-fits-all.
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