McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” When should we analyze the contract? That’s the real reason why—because USPAP says so.

Contracts 64

Contracts Appraisal Market Value Real Estate 64

Appraisal Buzz

JULY 5, 2022

We live in unprecedented times regarding appraiser scrutiny. Fannie Mae and Freddie Mac review appraisals using Collateral Underwriter and Automated Collateral Evaluation. State boards field complaints about appraisals, often when appraised value is below sales contract price. There is no such thing, not anymore.

Appraisal 221

Appraisal Finance Lending Contracts 221

McKissock

JULY 6, 2022

The reality, however, is many agents struggle to properly set and manage the client’s expectations of how the chaos is going to work and how the process is going to play out. Managing client expectations is critical, and sadly, often overlooked as part of the agent/client relationship. As agents, we know better.

Clients 87

Clients Real Estate Contracts Sellers 87

Birmingham Appraisal

AUGUST 23, 2023

How Can Appraisers and Agents Work Together? In the often chaotic world of real estate, the appraiser-agent relationship can contribute to a smoother process. There are many areas that appraisers and agents can inform and educate one another so that each of their jobs is done more successfully.

Agents 83

Agents Appraisal Valuation Appraisal Process 83

Appraisal Today

APRIL 19, 2024

Appraisal Institute Counters Flawed Appraiser Bias Narrative Excerpts: In reality, appraisers have a great story to tell, but we have a long way to go to refocus the terribly flawed “appraiser bias” narrative onto facts and science. Industry groups should also step up to support appraisers. It is human nature.

Appraisal 68

Appraisal Contracts Valuation Design 68

Housing Wire

DECEMBER 8, 2023

Ultimately, every homebuyer prospect, every contract and every negotiation is different, but your value should be consistent for all situations and clients. In fact, you will become known as a true professional and receive repeat and referral business as a result of doing the best job possible for your clients.

Clients 430

Clients Real Estate Inspection Buyers 430

Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Many allegations related to appraisals that used inappropriate comparable sales that were used to “make” a deal work.

Appraisal 418

Appraisal Clients Real Estate Sellers 418

McKissock

MARCH 2, 2021

As an experienced appraiser, you’ve likely encountered pressure to hit the purchase price or develop your appraisal based on a predetermined value. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Blog post: 9 Ways to Handle Appraisal Pressure. Video: Appraisers Who Hit Sales Prices.

Appraisal 103

Appraisal Contracts Market Value Clients 103

Birmingham Appraisal

FEBRUARY 20, 2024

Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between real estate agents and appraisers can be a touchy subject. On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.

Agents 87

Agents Appraisal Real Estate Agent Bracketing 87

Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”.

Housing Market 534

Housing Market Buyers Marketing Real Estate Agent 534

Housing Wire

JUNE 30, 2021

The company provides appraisal management services to lenders, investment firms, community banks, servicers and anyone who needs a real estate valuation. Appraisal shortage. This continues to put a great deal of pressure on appraisers who are managing large portfolios during an appraisal shortage.

Clients 384

Clients Valuation Real Estate Appraisal 384

Appraisal Buzz

JUNE 6, 2022

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. Now is your last time to sign up to receive the Appraisal Buzz Magazine for free from the Appraisal Buzz Premium Membership ! Every appraisal starts with identifying the appraisal problem.

Appraisal 221

Appraisal Clients Appraisal Process Inspection 221

Housing Wire

MAY 22, 2023

Being a consultant has helped Keelin retain and grow his client base, especially in his main markets of New Jersey and Florida. For instance, if his client is putting 5% down as down payment and the property is under-appraised, Keelin would have a “fluid conversation” of all the possible scenarios. “[If]

Loan Officers 359

Loan Officers Investors Technology Clients 359

McKissock

JUNE 21, 2021

Contracts fall through. Inspections and appraisals come back with deal-breaking news. When those things happen, it will be up to you to deliver the bad news honestly and openly, without destroying your clients’ confidence in you or the whole process. Follow these tips to break bad news to real clients. Bad things happen.

Clients 98

Clients Real Estate Contracts Business 98

Appraisal Today

JANUARY 5, 2024

Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. I suppose it is because most appraisals are done (now) for residential lending purposes.

Appraisal 76

Appraisal Contracts Legal Business 76

Appraisal Buzz

JUNE 7, 2021

I provide services to appraisers, banks, technology firms, education providers, appraisal management companies, and attorneys. Depending on the client’s needs, my work includes coaching, customized training, quality assurance, continuing education, disciplinary action assistance, internal audit, and other customized projects.

Training 366

Training Reconsideration of Value Valuation Clients 366

Cleveland Appraisal Blog

NOVEMBER 14, 2022

Cleveland Appraisal Blog shares some tips. Whether it’s a residential building or a retail mall, you want to attract tenants and clients so that you can start generating profit. To ensure that all parties are in agreement, you should compose contracts for all contractors and clients you do business with.

Real Estate 303

Real Estate Development Appraisal Contracts 303

Appraisal Today

JULY 28, 2023

Keeping Appraisers out of Language Purgatory Appraisers: Be Careful with Your Words! by Dave Towne Excerpts: Appraisers, on July 17, 2023, a document from Freddie Mac was circulated to numerous appraisers around the US which identified certain words and other info that can be considered to be ‘BIASED’ in appraisal reports.

Appraisal 80

Appraisal Contracts Mortgage Clients 80

Walitt Solutions

MAY 24, 2020

A student in my USPAP Update class recently asked me, “I know I can discuss the report with the client, but I’ve talked about the report with other intended users, too. individual, group, or entity) who engage an appraiser by employment or contract in a specific assignment, whether directly or through an agent.

Clients 64

Clients Agents Appraisal Law 64

Appraisal Today

JUNE 23, 2023

This Is Where Appraisal Liability Risks Lie (Plus Tips on How to Avoid Them) By: McKissock Excerpts: While it’s difficult for a litigant to win a judgment against an appraiser, that doesn’t spare appraisers the inconvenience of being sued, which can be costly, time-consuming, and harmful to one’s reputation even if the suit fails.

Appraisal 87

Appraisal Real Estate Valuation Contracts 87

Boston Appraisal

DECEMBER 11, 2023

If you are buying or selling a property, or refinancing your home, you may encounter a real estate appraiser who will appraise your property based on its condition, features, location, and market trends and provide an appraisal valuation. The appraisal process is important for homeowners, buyers and sellers.

Appraisal Process 78

Appraisal Process Real Estate Appraisal Easement 78

McKissock

JANUARY 31, 2023

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! ” “It’s a lot more than just pulling comps!”

Real Estate Agent 97

Real Estate Agent Real Estate Agents Appraisal 97

Appraiserblogs

JUNE 15, 2022

It shall be unlawful… to engage in any act or practice that violates appraisal independence… Appraisers, I have written the info below, which you may use if you desire to send to your clients and local real estate offices. A Low Appraisal is Now a Bad Appraisal A low appraisal is now a bad appraisal.

Appraisal 117

Appraisal Real Estate Clients Agents 117

Birmingham Appraisal

JUNE 21, 2023

Helping Agents Understand Appraisal Factors That Impact Home Sales In the world of real estate, accurate property valuation plays an important role in the home buying and selling process. Appraisals provide an objective assessment of a property’s worth, ensuring accurate market value and facilitating successful transactions.

Real Estate Agent 76

Real Estate Agent Real Estate Agents Appraisal 76

Housing Wire

DECEMBER 21, 2023

This product allows a homebuyer to purchase a fixer-upper and finance the purchase and renovation in one loan based on the expected appraised value of the home after improvements. MYTH: The appraisal process for VA loans is more stringent and difficult than conventional loans. Who is eligible?

Mortgage 441

Mortgage Renovations Appraisal Process Finance 441

Housing Wire

JANUARY 13, 2022

The Supreme Court weighed in on a class action lawsuit against Quicken Loans , now Rocket Mortgage , regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009.

Appraisal 421

Appraisal Law Valuation Home Value 421

McKissock

JULY 27, 2021

As a real estate appraiser, you’ve likely encountered assignments in which the purchase price is not supported by the available comps. To find out, we asked appraisers, “What’s your top tip for defending your work when the appraised value comes in under sales price? ” Here’s what they said.

Appraisal 109

Appraisal Contracts Clients Marketing 109

Appraisal Today

JULY 1, 2023

Lenders Not Using AMCs for Appraisals By: McKissock June 23, 2023 Excerpts: Some appraisers seek alternate ways to find work outside of appraisal management companies (AMCs). Below are helpful tips on how to find financial institutions and banks that engage appraisers directly on fee panels. More Crazy Appraiser Stories!

Appraisal 86

Appraisal Contracts Market Value Mortgage 86

Appraisal Today

SEPTEMBER 22, 2023

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. I am working on an article on Hybrid Appraisals for the November issue of Appraisal Today.

Appraisal 87

Appraisal Training Inspection Real Estate 87

Hank Miller Team

DECEMBER 14, 2022

Someone certain to be on the radar of all is the appraiser; sometimes an ally, sometimes an enemy. Home Sellers & Appraisers When an owner decides to list, their first move to solicit a real estate agent. Some agents recommend an appraisal prior to listing, they don’t want to deliver “bad news” so they let the appraiser do it.

Appraisal 52

Appraisal Real Estate Agent Contracts Agents 52

Birmingham Appraisal

SEPTEMBER 15, 2022

What New Homebuyers Need To Know About Appraisals. In this new homebuyer’s guide to appraisals, I’ll help you understand the process during your first home purchase. I would like to do my part by informing and educating you on the appraisal part of the transaction. What is a Mortgage Appraisal?

Appraisal 91

Appraisal Inspection Appraisal Process Real Estate Agent 91

Appraisal Today

NOVEMBER 24, 2023

The Surfing Appraiser Riding the Waves of Up and Down Mortgage Rates By Mark Buhler Excerpts: Riding the waves of the appraisal profession can result in a range of outcomes and emotions over time. Appraisers, and surfers, have varying levels of experience, and experiences. Appraisers were busy cranking out appraisal reports.

Appraisal 75

Appraisal Mortgage Business Contracts 75

Housing Wire

APRIL 16, 2024

with real estate night sweats and want to alleviate your stress by banging out a text does not mean the other agent, your buyer prospect, your seller client, or the appraiser wants to share your insomnia. States have laws about what constitutes an agreement, a digital signature, or a contract. This also applies to time zones.

Real Estate Agent 419

Real Estate Agent Real Estate Agents Business 419

Appraisal Today

DECEMBER 8, 2023

OK to average adjusted comps on appraisal? Basic Appraisal, but not all appraisers know about this, especially if they “appraise to fit the form” aka form fillers. Worth reading, plus the appraiser comments. Click here = Appraisers vs. Lenders. One of the best I have read. What Can We Do?

Appraisal 67

Appraisal Real Estate Contracts Design 67

Appraisal Today

OCTOBER 27, 2023

Strange Encounters in Property Appraisal By: McKissock Excerpts: Property appraisal is not typically thought of as a “dangerous” profession per se. Recently we asked our appraisal community, “What’s the weirdest property you’ve appraised recently?” I worked for an assessor’s office for 5 years in my first appraisal job.

Property Appraisal 72

Property Appraisal Appraisal Business Contracts 72

Appraiserblogs

JANUARY 24, 2023

The lender allowed an unlicensed property data collector give bad data to the appraiser… I work for this lender and they will not let my trainee inspect. I recently took on a measure job for a client who was questioning the square footage of their home. The owners are now underwater by more than $100,000… I’m sad and I’m mad!

Inspection 147

Inspection Training Contracts Valuation 147

Annarbor Appraisal

SEPTEMBER 6, 2020

Challenging the results of the appraisal for mortgage financing. The first thing to remember as a consumer or real estate agent, is that the client is the lender, not the consumer. The lender obtains the appraisal to ensure that the collateral is adequate for the loan (remember the three C’s of credit, capacity, and collateral).

Mortgage Appraisal 78

Mortgage Appraisal Appraisal Mortgage Reconsideration of Value 78