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However, a hybrid appraisal includes an exterior observation of the property, sometimes including an interior inspection by a third-party: this third party inspection could be done by a realestateagent, a propertyinspector or even another realestate appraiser.
As a buyer, seller, or realestateagent involved in a sales transaction it’s important to be aware of changes in how things are done that may affect you. The data collection is done by a third-party data collector, who could be a realestateagent or someone else. What Is A Hybrid Appraisal?
RealEstate-Owned (REO) properties are distressed homes acquired by lenders after failed auctions. Sold below marketvalue, they often require significant repairs. The property may also have legal issues, like title problems or unpaid liens, which can affect its value.
Next month’s newsletter will have a lengthy article on the issues of the propertyinspector. I wonder how well the GSE AI works on rural appraisals, “one of a kind” properties, no permits, Highest and Best Use issues, and many more. I was taught that “one sale does not make a value.” Each AMC sees it differently.
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