Remove Contracts Remove Market Value Remove Presentation Remove Property Appraisal
article thumbnail

Purchase Contracts in Appraisal Reports

Walitt Solutions

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. The client wants me to change my report to show the new amended contract price!

article thumbnail

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.” When should we analyze the contract? That’s the real reason why—because USPAP says so.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The Challenges of Appraising Multifamily Properties

Appraisal Buzz

Challenges often arise in how professionals figure out the overall value of multifamily homes. Because appraisals are contingencies in 43% of contracts , you must find ways to accurately evaluate these properties. These properties are not for owner occupancy. Three Common Methods Appraisers Can Use.

Appraisal 397
article thumbnail

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

The Robert Weiler Company

And how does the real estate appraisal process work? The following article delves into the “science” of residential and commercial real estate appraisal and discusses the steps to succeed. Residential vs. Commercial Property Appraisal and Their Differing Review Process. Description of the commercial property.

article thumbnail

3 Types Of Appraisals Realtors Should Be Aware Of

Birmingham Appraisal

Not really, and today I’m going to explain the differences between several different types of appraisals that could mean the difference between a home appraising for contract price or not. For the record, I will state that the goal of every appraisal is to estimate the market value of a home, usually for lending purposes.

article thumbnail

Top 10 Things Appraisers Wish Real Estate Agents Understood

McKissock

” “The amount of knowledge, continued education and diligence it truly takes to provide an excellent work product for the property appraisal.” ” “There is a lot of research and number crunching to do, so asking for a value at time of inspection is a no go.” ” “How value is derived.”

article thumbnail

Understanding Appraisal Factors That Impact Home Sales: Insights for Real Estate Agents

Birmingham Appraisal

Appraisals provide an objective assessment of a property’s worth, ensuring accurate market value and facilitating successful transactions. Real estate agents, as trusted guides for their clients, must possess a good understanding of the factors that influence property appraisals. These include: 1.