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Purchase Contracts in Appraisal Reports

Walitt Solutions

Along with many of you, I am a member of multiple online appraiser discussion groups. One of those common scenarios goes like this: I completed an appraisal and transmitted the appraisal report to the client for a purchase appraisal. My market value conclusion came in below the purchase contract price.

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Strange Properties Appraisers Have Seen

Appraisal Today

Strange Encounters in Property Appraisal By: McKissock Excerpts: Property appraisal is not typically thought of as a “dangerous” profession per se. However, you may encounter some strange—or even spooky—properties from time to time. I worked for an assessor’s office for 5 years in my first appraisal job.

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Why Does the Appraiser Need the Sales Contract?

Town & Country Residential Appraisals

When it comes to appraising a property, appraisers must take into account all agreements of sale. According to Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP), we are required to analyze any contracts for sale. Appraisers are required to analyze all agreements of sale.

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The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. But then they had to hire me to perform an appraisal. That’s right!

Appraisal 302
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The Value of Words in Valuation

Appraisal Buzz

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. Standard 2 is the specific standard that addresses the reporting of appraisals.

Valuation 360
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What’s in a Sales Contract? Insights from a Seasoned Appraiser

McKissock

Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” That’s the real reason why—because USPAP says so. When should we analyze the contract?

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Maintain that Workfile

Appraisal Buzz

Real property appraisers 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 real property appraisal is cause for concern. There is a bright spot, however.

Appraisal 417