Appraiserblogs

APRIL 19, 2023

The Fannie Mae Property Data Collectors program seems to have run afoul of West Virginia law. The act specifically states that only a casual or drive-by inspection can be performed when it comes to consumer loans secured by real estate, and no opinion can be rendered as to its value nor any fee charged for such an inspection.

Law 140

Law Inspection Real Estate Training 140

Zillow

SEPTEMBER 24, 2016

It is the seller's chance to reveal anything that can negatively affect the value, usefulness or enjoyment of the property. Disclosure laws vary from state to state, even down to the city and county level. Is a disclosure the same as an inspection? It is not the same thing as an independent inspection by a third party.

Real Estate 36

Real Estate Inspection Sellers Buyers 36

AmeriMac

OCTOBER 28, 2024

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. Factors like property condition, market competition, and holding costs must be considered for an accurate appraisal.

Property Appraisal 36

Property Appraisal Appraisal Legal Valuation 36

Appraisal Today

OCTOBER 6, 2023

I always thought the accused could face their accuser in a court of law in America. As this property data collector thing moves along, there continues to be no legitimate reason for Fannie Mae’s motivation to push this so hard other than they want the valuation process fully automated and can pay $25 for an untrained inspector to view a home.

Appraisal 86

Appraisal Contracts Real Estate Mortgage 86