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4 Resources to Help Clients Understand the Appraisal Process

McKissock

Many people do not understand the appraiser’s role in the homebuying and lending process, nor what a home appraisal entails. Common myths about appraisals, as well as a general lack of knowledge, could lead to friction between you and your appraisal clients.

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Best practices to speed up the appraisal process

Housing Wire

Appraisal turn times have historically been a pain point in the mortgage process and in boom times, when transaction volumes soar, turn times tend to be one of the first casualties. In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks.

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Opinion: The path to modernizing the appraisal process

Housing Wire

Regardless of the size or complexity of a system or process, it is time to look at whether the impact it has on people is equitable. And the appraisal process is no exception. The appraisal gap for properties in Latino neighborhoods can be even worse, going as high as 9.4%.

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RemoteVal Solution Shortens Appraisal Process

Appraisal Buzz

Incenter Appraisal Management ’s new RemoteVal technology works to streamline one of the biggest bottlenecks in mortgage lending: appraisals. A homeowner or another individual must be at the property while they are conducting an appraisal.

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Why is now the time for lenders to modernize their appraisal processes

Housing Wire

With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. HousingWire: Why should lenders consider appraisal modernization and how can it benefit borrowers?

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FAQ 3: What’s the Difference Between an Appraisal and a Home Inspection

Riverfront Appraisals

This blog post is brought to you by the Guide To Appraisals series of e-books. Appraisal Process

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What AVMs can and can’t do in the appraisal process

Housing Wire

Fannie Mae recently announced that it will begin to “include a desktop appraisal option in Desktop Underwriter beginning March 19, 2022. Automated Valuation Models (AVMs) are commonly used today in the mortgage industry to help support the appraiser’s concluded value.

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The Loan Officer’s Guide to Appraisals, Part 1:  The Final Inspection

Riverfront Appraisals

Welcome to the very first post in our all-new series The Loan Officer’s Guide to Appraisals. Well – not really the end, but one of the last parts of some appraisals – namely the final inspection. We’ll briefly look at what a final inspection […].

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How Appraisal Management Companies Aid the Appraisal Process

Kairos Appraisal Services

The home appraisal is a key part of any home sale transaction, assuring the lender that they are not issuing a mortgage for more than a property is worth. An appraisal… The post How Appraisal Management Companies Aid the Appraisal Process appeared first on Kairos.

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Appraisal Inspection Vs. Home Inspection: Your Role as an Appraiser

McKissock

Appraisers often balk at assignments that require a more detailed inspection of the subject property (e.g., FHA appraisal assignments ) because they don’t want to be considered a “home inspector.” You were hired to complete an appraisal.

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The Loan Officer’s Guide to Appraisals Part 7:  How Can the Appraisal Process be Sped Up?

Riverfront Appraisals

For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. The post The Loan Officer’s Guide to Appraisals Part 7: How Can the Appraisal Process be Sped Up?

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Appraisals 101: What to Expect From the Home Appraisal Process

Raleigh Realty

Appraisals 101: What to Expect From the Home Appraisal Process Wondering what to expect from your home appraisal? Now it's time for the home appraisal. But before you do there's one last factor to consider: the home appraisal. What is a Home Appraisal?

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5 Remote Inspection Tools for Desktop Appraisals

McKissock

The COVID-19 pandemic has accelerated the shift to desktop appraisals. As of mid-March 2022, banks and mortgage lenders can now use desktop appraisals in place of traditional appraisals for qualifying Fannie Mae or Freddie Mac backed mortgages. eTrac Virtual Inspection Tool.

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FAQ #4: Are Appraisals Part of the Public Record?

Riverfront Appraisals

FAQ #4 Are Appraisals Part of the Public Record? Have you ever wondered if the tax assessor gets a copy of your appraisal? appeared first on Riverfront Appraisals. Or maybe the seller of a home you’re purchasing?

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The 7 Step Online Appraisal Process

Appraisal Partners Blog

A home appraisal is usually requested by a lender to estimate the market value of your home. When the time comes for you to get an appraisal for your property, it makes sense to use our services here at Appraisal Partners. We Match the Client with a Suitable Appraiser.

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The Loan Officer’s Guide to Appraisals Part 9: New Construction

Riverfront Appraisals

Welcome to the September edition of our blog series, The Loan Officer’s Guide to Appraisals. This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process.

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Understanding the Home Appraisal Process

East Coast Appraisal

The best way to do this is with an appraisal. During an appraisal, your home is inspected and photographed to determine the current market value. If you would like to know more, check out these commonly asked questions about the home appraisal process.

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Unwrapping what to expect in your home inspection, appraisal and closing

Housing Wire

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home.

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What Is A Final Inspection?

Birmingham Appraisal

A Closer Look At The Final Inspection. You may have heard of an appraisal inspection but what is a final inspection? Keep reading to find out the “second part” of the appraisal process for certain types of appraisals.

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How to Speed Up the Commercial Real Estate Appraisal Process

Appraisal Hub

If speed is an important factor for your next commercial property transaction, then you need a property appraiser that works fast. But even the most efficient appraisal firms can’t do their jobs if clients don’t provide the information they need. What happens during an appraisal?

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Preparing for a Home Appraisal Inspection

Kairos Appraisal Services

When selling your home or refinancing your mortgage, the home appraisal inspection is a crucial step in the process. You want your home’s appraised value to be as high as possible in the final report.

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What slows down the appraisal process?

Town & Country Residential Appraisals

AMC’s - “Appraisal Management Company” These organizations have come into existence in an attempt to fulfill government regulations to ensure that banks could not commit mortgage fraud like the practices seen prior to 2008.

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How Today’s Market Impacts the Appraisals and Inspections Landscape

Genworth MI Blog

Enact’s David Foster recently spoke with MortgageOrb about how the COVID-19 pandemic impacted inspections and appraisals, the changes we see today, and other appraisal factors to consider. Some buyers have even gone a step further by waiving inspections altogether.

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Home Inspections vs Home Appraisals

D Fritz Appraisals

What’s the Difference Between a Home Inspection and a Home Appraisal? If you’re in the market for a new home, the terms “home appraisal” and “home inspection” are more than likely to come up at some point as you zero in on a property you want to buy.

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7 Questions Residential Appraisers Ask Homeowners

Kairos Appraisal Services

When purchasing a home with a mortgage or refinancing, the transaction may require that a home appraisal inspection be done. This is because appraisals assure the lender that they are not issuing mortgages for more than what residential properties are worth.

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Fintech firm seeks to modernize appraisal process | Clear Capital in the News

Clear Capital

Last year’s acquisition of CubiCasa by Clear Capital, a national real estate valuation technology company, was just one step in the firm’s overall mission to modernize the appraisal process, a top official told Mortgage Professional America. “We’ve Story by Tony Cantu for MPA.

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What is the Importance of the Appraisal Process?

AmeriMac

Home appraisals are the perfect way to get an accurate measure of your house’s value. Now if you want to gain approval for a mortgage, you are going to need a good home appraisal. Let’s discuss what an appraisal is and why it’s so important.

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What is the Importance of the Appraisal Process?

AmeriMac

Home appraisals are the perfect way to get an accurate measure of your house’s value. Now if you want to gain approval for a mortgage, you are going to need a good home appraisal. Let’s discuss what an appraisal is and why it’s so important.

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Top 10 Things Appraisers Wish Real Estate Agents Understood

McKissock

As part of our Question of the Month survey series, we asked members of our appraisal community, “What’s one thing you wish real estate agents knew about the appraisal process?” Thank you to the large number of appraisers who shared their input!

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The Loan Officer’s Guide to Appraisals Part 6:  How are FHA Appraisals Different From Others?

Riverfront Appraisals

Right now on our Appraisal Blog, we’re all about helping Loan Officers. This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 6: How are FHA Appraisals Different From Others?

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What is the Importance of the Appraisal Process?

AmeriMac

Home appraisals are the perfect way to get an accurate measure of your house’s value. Now if you want to gain approval for a mortgage, you are going to need a good home appraisal. From the seller right down to the buyer, an experienced real estate appraiser is an essential part of the overall home purchasing process. A precise appraisal is a critical step of the process regardless of whether you want to sell, buy, or refinance.

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The Home Appraisal Process: How It Can Impact Your Mortgage Payment

Realtor

-Oxford-/iStock The home appraisal process is just a formality when buying real estate, right? If you’ve applied for a mortgage, your home-to-be still has to undergo a comprehensive appraisal of its worth—and an unfavorable home appraisal can kill a real estate deal.

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The Home Appraisal Process: How It Can Impact Your Mortgage Payment

Realtor

-Oxford-/iStock The home appraisal process is just a formality when buying real estate, right? If you’ve applied for a mortgage, your home-to-be still has to undergo a comprehensive appraisal of its worth—and an unfavorable home appraisal can kill a real estate deal.

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New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

What New Homebuyers Need To Know About Appraisals. Buying a home can be a confusing process, however, I hope that you have been able to surround yourself with knowledgable professionals who can help you navigate your first home purchase and make it an enjoyable experience.

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Some Financial Institutions Care About The Safety Of Appraisers, While Most Do Not

Miller Samuel

As co-owner of an appraisal firm for 34 years, while based in Manhattan, we generally don't drive to appraisal inspections. By the time the first Fed rate cut was made in response to the coronavirus on March 3, we adopted a screening process for appraisal inspections.

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Bifurcated Appraisal: An Enhanced Desktop Appraisal

McKissock

There are many articles, blogs, and opinion papers that either support or reject bifurcated and hybrid appraisals, which contributes to a great deal of confusion. Here at McKissock Learning, we do not support any position regarding bifurcated and hybrid appraisals.

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The Loan Officer’s Guide to Appraisals Part 5:  What is bracketing and why do we do it?

Riverfront Appraisals

Right now on our Appraisal Blog, we’re all about helping Loan Officers. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 5: What is bracketing and why do we do it?

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Loan Officer’s Guide to Appraisals Part 3: Communication With The Appraiser

Riverfront Appraisals

This post is part three of a 12-part series we recently launched called The Loan Officer’s Guide to Appraisals. In case you missed part one on the Final Inspection process, go back and read it here.

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“How digitizing appraisal inspections can reduce risk and bias” tech talk

Clear Capital

The modern appraisal embraces data and technology to gather data differently. Collecting data in a non-biased, standardized format helps decrease the systemic racial bias found in appraisals. Events & Conferences Appraisal Modern Appraisal racial bias valuation

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The Loan Officer’s Guide to Appraisals Part 2:  Lending on Unique Homes

Riverfront Appraisals

This post is part two of a 12-part series we recently launched called The Loan Officer’s Guide to Appraisals. In case you missed part one, go back and read all about the Final Inspection process here. Welcome back, friends!