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Understanding the Basics of Real Estate Appraisal: A Guide for New Agents

Birmingham Appraisal

In Alabama, appraisers must be certified by the state, and those with more experience or specialized training may provide more accurate and reliable appraisals. Myth 2: Appraisals Are the Same as Home Inspections While both appraisals and inspections assess a property’s condition, they serve different purposes.

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The Hidden Risks of Appraisal Waivers: What Homebuyers and Homeowners Need to Know

Birmingham Appraisal

AVMs rely on historical sales data and algorithms, but they dont physically inspect the home, evaluate its condition, or consider market variations like an appraiser does. Hidden Property Condition Issues Could Go Undetected A professional appraiser does more than just provide a professional opinion of the market value of the property.

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The Appraisal Process & What Appraisers Look For: Part 2- A Guide for New Agents

Birmingham Appraisal

As a new agent, understanding these market dynamics will help you anticipate how they might affect the final appraisal. On-Site Inspection The appraiser will then visit the property to perform an on-site inspection, which is where theyll physically evaluate the home.

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Preparing Your Borrower for the Appraisal Inspection – Virtual or On-Site

Genworth MI Blog

Real estate appraisals serve an important role in the mortgage lending process and many borrowers will have personal experience interacting with an appraiser during a refinance, and possibly even a purchase. The appraisal inspection is typically where such interactions occur, and this can be a stressful experience for the borrower.

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FHA Appraisal Tip – Low Water Pressure

Chicagoland Appraisal Blog

An issue such as water pressure may seem small, but it is a dramatically negative impact on the appraisal value of a property. The best course of action would be to adress any and all repairs to a home prior to an inspection. The post FHA Appraisal Tip – Low Water Pressure appeared first on Chicagoland Appraisals.

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The Automated Appraisal: Tips for a Changing Appraisal Environment

Genworth MI Blog

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. Lower cost than traditional appraisal. In some cases, it might be a person completing a desktop for the valuation. Much faster to complete.

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The Automated Appraisal: Tips for a Changing Appraisal Environment

Genworth MI Blog

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. Lower cost than traditional appraisal. In some cases, it might be a person completing a desktop for the valuation. Much faster to complete.