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7 Key Considerations for Using a Restricted Appraisal Report

McKissock

In any real estate appraisal assignment, you must use one of the two written report options outlined in USPAP: Appraisal Report or Restricted Appraisal Report. A diligent appraiser can utilize the Restricted Appraisal Report option when it makes good sense for the assignment and client.

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4 Key Disclosures and Disclaimers for Hybrid Appraisal Reports

McKissock

While the appraiser has broad flexibility in the level of detail and manner of disclosing the scope of work in the appraisal report, there must be sufficient information contained in the report for the client and other intended users that rely on the assignment results to understand the scope of work performed.

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How to Choose a Real Estate Appraiser

McCarthy Appraisal Blog

Ask an appraiser about their education and licensing. Federal law mandates state certification for most appraisers. The two basic licenses are Certified Residential Real Property Appraiser and Certified General Real Property Appraiser. Evaluate the appraiser’s experience.

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NAR: Appraisal License Equivalency Credit for RE Agents?

Appraisal Today

Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. Excerpts from the letter: … including, but not limited to, experience in real estate market analysis and real estate brokerage, including: • Evaluating and pricing residential real estate. McKissock Survey.

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Checklist: What to Include in a Narrative Appraisal Report

McKissock

Report writing is an essential step in the appraisal process. Want a quick breakdown of everything that belongs in a narrative appraisal report? for mortgage financing purposes or tax assessment appeal purposes) Identification/brief description of the property appraised Real property interest appraised (e.g.,

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NAR Member Survey on Appraisal Data Collectors

Appraisal Today

NAR Member Survey on Data Collectors Excerpts: In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. Brokers followed with 24%, and appraisal-certified professionals comprised 14% of the respondents. On a more positive side, I have done thousands of drive by appraisals since 1986.

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2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

Traut notes that the Federal Housing Finance Agency (FHFA) announced in late October 2021 at the Mortgage Banker Association’s annual conference that banks and mortgage lenders will be able to use desktop appraisals in place of traditional appraisals for qualifying Fannie Mae or Freddie Mac backed mortgages.