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The valuation services market has yet to see that same level of impact, but the pace of change is ramping up. The market has moved into the digital realm, and businesses require on-demand access and rapid results,” said Chris Knight, Group CEO of Opteon. Value and marketability are not purely a math equation.”.
When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In addition to the automated appraisal, we’re starting to see moves toward a hybrid appraisal process called bifurcation , meaning that a computer and a person complete the valuation. Access our appraisal training courses here.
When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In addition to the automated appraisal, we’re starting to see moves toward a hybrid appraisal process called bifurcation , meaning that a computer and a person complete the valuation. Access our appraisal training courses here.
A hybrid appraisal is a valuation completed by a Licensed/Certified appraiser that is very similar to a desktop appraisal. It is a shorter appraisal form than the traditional appraisal and is performed by an appraiser who typically never visits the property. We look forward to providing you with reliable appraisal assignments.
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. The bulk of the appraiser’s work is focused on market analysis to decide market value based on “assumed” condition of the house.
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.
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. Next month’s newsletter will have a lengthy article on the issues of the propertyinspector. I taught USPAP before the ASB told you what to teach.
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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