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The appraisal gap is complicating deals across the country

Housing Wire

Unfortunately, the appraisal put the house’s value roughly $50,000 below than what she paid. With others waiting in line behind her, the seller wouldn’t budge on price. Linda had a sizable downpayment but still needed to find a way to close the appraisal gap. She recently had a deal fall apart due to appraisal.

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Why Agents Should Share Their CMA With The Appraiser

Birmingham Appraisal

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.

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Why Appraisal Workfiles Are Important

Appraisal Today

Why an Organized Workfile is Your Best Defense By Craig Capilla Excerpts: We all know that the Uniform Standards of Professional Appraisal Practice (USPAP) set the baseline for what must be included in a workfile. Still, all too many appraisers seek only to meet that minimum standard and little more. Newer appraisers are lucky.

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The Appraiser’s Perspective: Insights and Tips for Real Estate Agents

Birmingham Appraisal

Appraisal Tips For Real Estate Agents As a real estate appraiser with over 30 years of experience, I have seen many changes and challenges in the appraisal profession and the real estate market. I believe that appraisers and agents have a common goal: to help their clients buy or sell a home.

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New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

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?

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Getting Appraisers to Reconsider Value—Do’s & Don’ts

Portland Appraisal Blog

There has been a meeting of the minds, the contract has been signed and everyone is anticipating a smooth closing. Streaking through the atmosphere is a meteor scientists have dubbed “the appraisal”; it came of out nowhere and impacts your deal at hypersonic velocity, obliterating it in an instance. What just happened? It’s not fair.

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Practical Tips for Working With AMCs

Appraisal Today

Appraisers Share Their Best Tips for Working with AMCs. Keep them up to date in every step of the report so that they can keep the Lender (and the Buyer/Seller/Realtor/Closing Attorneys when applicable) all in the loop on the progress of the report. My comments: Read this blog post with practical tips from practicing appraisers.