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Realpropertyappraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in realpropertyappraisal is cause for concern.
Keep reading for insights on the appraisal profession, how to become a propertyappraiser, and, finally, how to maintain your license and grow your career. What’s it like to be an appraiser? Every piece of realproperty, from a two-bedroom condo to a 500-acre farm, has a value. Call 800.328.2008.
When you find the right one, make sure they are licensed and insured to avoid any nasty surprises down the line. You can also listen right here on the Cleveland Appraisal Blog! www.homevaluestories.libsyn.com I am a proud member of the Ohio Coalition of Appraisal Professionals.
An appraisal review is a second opinion or added insurance for the transaction to ensure the purchase price history, comps, adjustments, and disclaimers are accurate. Essentially, the commercial appraisal reviewer must confirm the report is acceptable, meets standards, and the appraiser had no interest in the propertyappraised.
Disciplinary complaints against appraisers are becoming more and more common. From accusations of bias or discrimination to failure to disclose significant realpropertyappraisal assistance, it can be really alarming if a licensing board reaches out and notifies you of a complaint. Make sure you hire competent counsel.
Understanding Market Value Market value is the most frequently sought value in realpropertyappraisals and can have various definitions. Most often, it is defined as the most probable price a property should sell for under typical conditions. Excerpts: Insurance is financial risk management. Income replacement.
Tip #5: Hire a professional Ohio real estate appraiser to assess the Columbus, Ohio commercial property for sale before signing. In addition to hiring an attorney, assemble a team of experts, particularly professional commercial propertyappraisers to assess the property prior to signing. 1031 Exchanges.
Most of the inspection training we receive as appraisers happens in the field. When I started in this business long ago, there was no such thing as a licensed appraiser or a certified realpropertyappraiser. Certification and licensing simply didn’t exist.
Excerpts: Disciplinary complaints against appraisers are becoming more and more common. From accusations of bias or discrimination to failure to disclose significant realpropertyappraisal assistance, it can be really alarming if a licensing board reaches out and notifies you of a complaint. To read more, click here.
This also opens the door for pushback on related changes, such as the expansion of the Nondiscrimination rule of the Uniform Standards of Professional Appraisal Practice, or the addition of valuation bias education to the RealProperty, to the extent that either of these would include content that goes beyond what exists in statute already.
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