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Can New Construction Sales be Used in an Appraisal of an Older Home?

Birmingham Appraisal

This decline in the number of houses sold in some areas has made it difficult to do appraisals because of the lack of comps. They wanted to know if it was okay to use new construction sales in an appraisal of an older home. Appraisal Process To answer this it’s important to understand the appraisal process.

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Can a New Construction Sale be Used as a Comp for an Older Home?

Birmingham Appraisal

This decline in the number of houses sold in some areas has made it difficult to do appraisals because of the lack of comps. They wanted to know if it was okay to use a new construction sale as a comp for an older home. Appraisal Process To answer this it’s important to understand the appraisal process.

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Appraisal Quality Tip: Location matters — The key to choosing comparable properties

Clear Capital

These tips are specifically designed with you in mind, to help minimize the number of revision requests you receive through a well-supported and credible appraisal report! Depending on location, features such as condition, quality of construction, room count, etc., This approach captures location and provides bracketing for features.

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My Top 11 Tips For Realtors When Choosing Comps

Birmingham Appraisal

11 Helpful Tips For Choosing Comps Whenever I speak to agents about the real estate market and the appraisal process the one topic that the discussion always leads to is about choosing comps. Today I’m going to share my top tips for choosing comps from an appraiser’s perspective.

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Appraising Fixer Uppers

Appraisal Today

Appraising Fixer Uppers Excerpts: We’re all familiar with the term “fixer-upper.” The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers. The rest of the post is a very good case study To read more, click here My comments: I have appraised many fixer-uppers.

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Appraisal Comparable Guidelines – What Do Appraisers Look For in Comps?

Realvals

One of the most essential parts of any appraisal is the comparable properties that the appraiser chooses for the Sales Comparison Approach. This article will go into detail about the appraisal comparable guidelines used by appraisers and the exact characteristics that appraisers look for in comps.

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6 Ways to Prevent Conventional Loan Appraisal Revisions

Clear Capital

As an appraisal quality leader and former field appraiser, I know firsthand that working in the real estate appraisal industry can be a wild ride. Due to emerging shifts in the mortgage loan market, there is a heightened sense of urgency to review the conventional loan appraisal guidelines. . Location, location, location.