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The Necessity of a Commercial Engagement Letter

Dart Appraisal

Once the party or parties have signed the engagement letter or indicated acceptance of an appraisal order, the letter or correspondence to an appraiser serves as a contract. Vacant land, retail, industrial, multi-family, etc. . Planned renovations? Proposed construction, and if so, is a Prospective Value scenario appropriate? .

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The “Science” Behind Residential vs. Commercial Real Estate Appraisal

The Robert Weiler Company

It could take the form of mixed-use real estate, an apartment building, office building, shopping center or retail building, industrial property for sale, and more. Cost of construction and materials. Independent and not contracted with any third party, institution, or broker. Their purchase will ultimately be income-generating.

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Why Appraisal Workfiles Are Important

Appraisal Today

With shifts in existing and pending home sales, new home sales, construction activity, and economic indicators such as inflation and mortgage rates, appraisers are navigating a complex landscape. Appraisers should consider the potential impact, especially in markets with significant new construction. baths, 6,263 square feet, 2.23

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Non-Arms Length Sales for Appraisers

Appraisal Today

What should appraisers look for in a sales contract? No detail has been spared in this thoughtful renovation, from the custom three-story open square-nosed European tread lightwell staircase to the wide plank Stuga white oak flooring, to the dramatic designer lighting fixtures throughout. I sometimes see low sales for various reasons.

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Appraising Historical Homes

Appraisal Today

In my city of 78,000 population, there are over 10,000 buildings constructed prior to 1930, including many classic Victorians. Many downtown mixed-use buildings (retail and apartments) are in my city. This totally renovated 5 bedroom home is tucked in the woods on a secluded cul-de-sac. baths, 2,973 sq.ft., built in 1971, 0.34

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Appraiser Has Very Big Problems With Borrower

Appraisal Today

During the two-year renovation, the seller, who bought the home in 2017, updated the kitchen with a Bosch cooktop, Gaggenau appliances, and soft-close doors. An example of this in real estate appraisal is the purchase and sale contract. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.24

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2024 USPAP Changes Clarify Nondiscrimination

Appraisal Today

The vast majority of complaints (but not all) stem from an appraisal that comes in below the contract price or the targeted refinance “number” where the homeowner, or even the buyer, identifies as part of a minority racial or ethnic group. Care was taken to move as little earth as possible during construction. percent from 7.90