Remove Buyers Remove Contracts Remove Market Value Remove Modernization
article thumbnail

Non-Arms Length Sales for Appraisers

Appraisal Today

The 7 Sale Types Explained Excerpts: An arm’s length sale – a sale in which the buyers and sellers act independently and in their own self-interest is the most common type of real estate transaction. A non-arm’s length sale in real estate is a transaction between a seller and buyer who have a connection by marriage, family, work, etc.

article thumbnail

My Top 8 Search Criteria For Finding The Best Comps

Birmingham Appraisal

Agents and appraisers are not that different in their desire to determine an accurate market value for a property. The contract price and appraisal value will need to line up or the buyer will not be able to get a loan to pay for the property.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Top Ten Reasons Why It Is Great to be an Appraiser!

Appraisal Today

Spend hours writing volumes of supporting documentation to justify the market value of a property you already decided on when you pulled into the driveway. Record Share Of Sellers Give Concessions To Buyers Excerpts: ‘Buyers are asking sellers for things that were unheard of during the past few years.’

article thumbnail

Lenders Not Using AMCs for Appraisals

Appraisal Today

Highest and Best Use vs. Market Value By Timothy Andersen, MAI Excerpts: There are numerous definitions of market value. But what stands out are the first seven words of Fannie’s definition: “[m]arket value is the most probable price…,” (emphasis added) a definition that places value firmly on the pedestal of sales price.

article thumbnail

The cure for appraisal gap anxiety

Clear Capital

An appraisal gap is the difference between what a buyer agreed to pay for a home in a purchase contract and what an appraiser concludes as the fair market value of the property. Well, a cure for appraisal gap anxiety has appeared on the scene.

article thumbnail

What Is an Appraisal Contingency and Why Does It Matter?

AmeriMac

Then, they’ll compare what they’ve learned to everything they know about the current condition of the home in question to come up with fair market value. The easy way to think of it is that an appraisal is entirely focused on determining the true value of a home. What Is an Appraisal Contingency?

article thumbnail

What Is an Appraisal Contingency and Why Does It Matter?

AmeriMac

Then, they’ll compare what they’ve learned to everything they know about the current condition of the home in question to come up with fair market value. The easy way to think of it is that an appraisal is entirely focused on determining the true value of a home. What Is an Appraisal Contingency?