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New York Gov. Hochul signs bill giving flood risk ‘right to know’ to homebuyers

Housing Wire

This legislation eliminates the ‘credit provision’ and requires the disclosure of information concerning flood risk, flood history, and flood insurance on real property transactions.” “Previously, sellers could opt that the buyer gets a $500 credit at closing and the disclosure requirement was waived,” Hochul’s office explained.

Law 360
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Verification solutions provider Xactus acquires MassiveCert

Housing Wire

MassiveCert, in addition to flood zone determinations, provides elevation certificates, Letters of Map Amendment services, private flood compliance, and real-property risk assessment. Up until now, Xactus obtained data from third parties. Presented by: ServiceLink.

Insurance 299
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Tips for Making a Successful Transition to a New City After a Personal Low Point

Cleveland Appraisal Blog

Joining local clubs or organizations, volunteering for events or charities, attending spiritual centers, classes, or workshops, and online communities such as Meetup or Facebook groups are excellent ways to meet new people and develop a support system. Images by Pexels June, thank you so much for sharing these tips with us! Sage advice!

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The title industry’s latest cat-and-mouse game: seller impersonation fraud

Housing Wire

This recent trend involving seller impersonation is particularly concerning, as the real property owner is typically not aware nor in a position to prevent the fraud, until it is too late,” said Thomas W. Cronkright II, Executive Chairman of CertifID.

Sellers 358
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GSEs still shun the low end of manufactured housing

Housing Wire

Instead, they have opted to finance manufactured homes that more closely resemble site-built homes, are titled as real property and cost much more. Freddie Mac has sought to educate borrowers on options to convert chattel financing to real property.

Finance 350
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How should appraisers approach short-term rentals?

DataMaster

The purchase of real property for the purpose of investment is not new. Or, a home may be purchased for its income potential, with the purpose of renting the property to a tenant. Here are just a few considerations: Daily rates changes (weekends, seasonally, surrounding major events…etc.)

Appraisal 148
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What’s New in Appraisal Membership: June 2021

McKissock

In this job aid, we’ve compiled several recommendations shared by a hearing officer, a property assessor, and appraisers who regularly perform real property assessment appeal assignments. This job aid provides in-depth guidance on appraising a big box retail property. Job aid: Big Box Retail Valuations.