article thumbnail

The Home Appraisal Process: 6 Words You Should Know

East Coast Appraisal

Whether you are buying, refinancing, or simply insuring a home or piece of property, a home appraisal is an important document in the process that you need to understand. Here are six key words and phrases that you should be familiar with before your next appraisal. East Coast Appraisal Service.

article thumbnail

How Today’s Market Impacts the Appraisals and Inspections Landscape

Genworth MI Blog

Additionally, appraisers are only qualified to comment on the observed condition of a property. They are required to refer concerns impacting livability, soundness and/or structural integrity to a more qualified expert for further assessment. Q: How do automated valuation models (AVMs) come into play in the appraisal process?

Insiders

Sign Up for our Newsletter

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

article thumbnail

How Remaining Economic Life Works

Cleveland Appraisal Blog

To make this determination, the appraiser must first determine the Highest and Best Use of the land. The use of the word “home” in this article, is referring to the property “improvements”) There are several data sources that appraisers use to obtain this information. Here’s one way.

Appraisal 365
article thumbnail

Get to Know your Home Appraisal Company

D Fritz Appraisals

Fritz Appraisals is one of Victoria’s longest standing appraisal firms, with more than 40 years of experience in all aspects of the real estate industry in Victoria, BC. Likewise, use things like online reviews to help you decide on which company will be best at meeting your home appraisal needs. Word of Mouth Recommendations.

article thumbnail

Mortgage Term Glossary

Assurance Financial

The first number refers to the length of the introductory period, while the second is how often the rate can adjust. Amortization is the process of paying off a loan over a set period. Before you buy a home or refinance a mortgage, your property will most likely need to go through the appraisal process. Amortization.

article thumbnail

The Automated Appraisal: Tips for a Changing Appraisal Environment

Genworth MI Blog

When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In addition to the automated appraisal, we’re starting to see moves toward a hybrid appraisal process called bifurcation , meaning that a computer and a person complete the valuation. They’re insured.

article thumbnail

The Automated Appraisal: Tips for a Changing Appraisal Environment

Genworth MI Blog

When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In addition to the automated appraisal, we’re starting to see moves toward a hybrid appraisal process called bifurcation , meaning that a computer and a person complete the valuation. They’re insured.