Housing Wire
DECEMBER 14, 2021
The Federal Housing Finance Agency (FHFA) is the latest stakeholder to examine how racial bias may creep into property valuations. But when the FHFA hunted for examples of racial bias by keyword searching the free-form commentary section in millions of appraisal reports, it found thousands of references to race and ethnicity.
Appraisal Buzz
AUGUST 1, 2022
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.
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Appraisal Buzz
APRIL 15, 2024
The new data set is all encompassing for every property type (residential) that were traditionally divided into 12 separate forms. The appraiser will be led through a process, defined by the scope of work. This scope of work is determined by the type of property and the characteristics of the property.
Appraisal Buzz
MAY 24, 2021
Because appraisals are contingencies in 43% of contracts , you must find ways to accurately evaluate these properties. These properties are not for owner occupancy. Reproduction refers to how much a replica would cost to build. However, things aren’t always as straightforward as they seem.
Clear Capital
FEBRUARY 23, 2024
If it is not highlighted by the lender, the appraiser should review the income and resale restrictions in the purchase contract, and notify the lender before completing the order that it is a shared equity property. The contract will also likely reference a second document, either a deed restriction or a ground lease.
McKissock
JULY 29, 2020
A Desktop appraisal is defined as, “An appraisal assignment for which the scope of work does not include field work by the appraiser and does not include reviewing a recent interior/exterior property data report.”. URAR Hybrid and Desktop Appraisal Forms – Overview. Looking to upgrade your appraisal license?
Birmingham Appraisal
FEBRUARY 28, 2023
Homeowners, Don’t Make These Appraisal Mistakes When Selling Your Home As a real estate appraiser, I have seen many mistakes that sellers make during the appraisal process. These mistakes can significantly impact the value of a property and even lead to an appraisal being lower than the contract price.
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