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Isn’t a home inspection similar to a home appraisal? Not at all – an appraisal differs from a house inspection. A home inspector’s function is to study the structural, electrical, mechanical & plumbing in a home and document any problems or safety issues. Do I need a home inspection as well?
In many cases, this means that a person (who may or may not be an appraiser) collects information on the property via propertyinspection and a computer does the valuation. The person conducting the propertyinspection may not be licensed or have enforceable standards of practice, so the borrower experience can vary widely.
In many cases, this means that a person (who may or may not be an appraiser) collects information on the property via propertyinspection and a computer does the valuation. The person conducting the propertyinspection may not be licensed or have enforceable standards of practice, so the borrower experience can vary widely.
It is a shorter appraisal form than the traditional appraisal and is performed by an appraiser who typically never visits the property. Some hybrid appraisals have an exterior only inspection, while others include an interior inspection. A major concern regarding the hybrid appraisal would be the level of risk and liability.
A phone app would be utilized to post assignments and anyone willing to take on the assignment would grab it and complete the inspection. An example that I have read about that is the basis for this new appraisal inspection process and framework is that of the medical assistant. What is the training of the propertyinspector?
It’s standard practice in real estate to give a home a fresh coat of paint before putting it on the market. Nine out of 10 times, the intention is to show the property at its best. Whether you're a listing a home for sale or in the market to purchase , here are five things you should know about real estate disclosures.
It was my favorite class as we could focus on issues in our current market. in context of a comprehensive database of property characteristics and market transactions. Fannie Mae sees the appraisal process as “inspection + value.” I taught USPAP before the ASB told you what to teach. Each AMC sees it differently.
Real Estate-Owned (REO) properties are distressed homes acquired by lenders after failed auctions. Sold below market value, they often require significant repairs. These properties are typically owned by banks or government agencies, aiming to sell them quickly to recover losses.
My talk focused on PropertyInspections, which – to an outsider – might seem to be a straight-forward topic. So, with the changes in the first mortgage space, I asked the audience to consider several questions, when examining the varied face of propertyinspections that are currently in practice in the overall valuation profession.
NOTE: Please scroll down to read the other topics in this long blog post on GSEs outsourcing AI for appraisal photos and Privacy issues, ROVs, mortgage rate forecast, current real estate market, unusual homes, mortgage origination stats, etc. = $25M California Estate With a Private Mountain in Somis, CA Excerpts: 8 bedrooms, 11.5+
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