Remove Contracts Remove Design Remove Market Value Remove Retail
article thumbnail

What Do Appraisers Look For in a Sales Contract?

Appraisal Today

What Do Appraisers Look For in a Sales Contract? Why must an appraiser be given a copy of the sales contract? Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them.

article thumbnail

Lenders Not Using AMCs for Appraisals

Appraisal Today

Highest and Best Use vs. Market Value By Timothy Andersen, MAI Excerpts: There are numerous definitions of market value. But what stands out are the first seven words of Fannie’s definition: “[m]arket value is the most probable price…,” (emphasis added) a definition that places value firmly on the pedestal of sales price.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

NAR Appraiser Survey July, 2023

Appraisal Today

The architectural design avoids lines and straight angles to establish the idea of continuous fluidity. This typically happens when an appraiser turns in an appraisal with an appraised value opinion lower than the sale contract price. Therefore, the final price may not reflect the market value of the property.

article thumbnail

Non-Arms Length Sales for Appraisers

Appraisal Today

However, there are six other types of real estate transactions that you need to know about so you can specify these sale types in your appraisal report as they can affect the market value of the property. Therefore, the final price may not reflect the market value of the property. Anderson as his family’s vacation home.

article thumbnail

Fannie Files Complaint Against Appraiser

Appraisal Today

Designed by the internationally renowned Japanese firm Atelier Bow-Wow, the property unfolds over 60 private, forested acres with the centerpiece – the meticulously designed and thoughtfully crafted residential structure settled into this lush land, bordered by the U.S. The Unique Mountain House in Nevada City, CA listed for $3.3

article thumbnail

Tools To Support Appraisal Adjustments

Appraisal Today

71 Cobb Lane Sitting closest to the water, the 17,173-square-foot residence at 71 Cobb Lane was designed by Barnes Coy Architects. Click here = Appraisals for estates and trusts The most popular non-lender appraisals Topics include: Estate/trust liability advice Use the IRS definition of Fair Market Value What forms to use?

Tools 64
article thumbnail

Desktop Appraisals: Who, When, and Why

Appraisal Today

Home equity lines of credit (HELOCs): When homeowners apply for HELOCs, lenders may request desktop appraisals to ascertain the property’s value and determine the credit limit without requiring a full appraisal. Managing Investments: For investors who own multiple properties, desktop appraisals provide rapid updates on property values.