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Challenging the results of the appraisal for mortgage financing. The first thing to remember as a consumer or realestate agent, is that the client is the lender, not the consumer. Lenders offer a formal “Reconsideration of Value” (ROV) process. Limit the number of sales to three if possible. •
Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the realestate market and no events on the horizon that could seriously upset appraisers’ business. Desktop appraisals, with information provided by third-party hirelings, may increase.
What is a MortgageAppraisal? A mortgageappraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. Who is the Appraisal for? This is called equity.
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