article thumbnail

How To Appraise Rural Properties

Appraisal Today

Kiedrowski The most recent statistics show Value Acceptance accounts for up to 40% of all mortgage approvals. It is presented as part of the GSEs “Appraisal Modernization” initiative, which aims to streamline the mortgage appraisal process. Later a conventional commercial building was constructed. = percent from 7.02

article thumbnail

New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

What is a Mortgage Appraisal? A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. Who is the Appraisal for? This is called equity.

Insiders

Sign Up for our Newsletter

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

article thumbnail

My Top 11 Tips For Realtors When Choosing Comps

Birmingham Appraisal

Today I’m going to share my top tips for choosing comps from an appraiser’s perspective. If agents can use the same techniques an appraiser uses the likelihood of there being a big discrepancy between the contract price and appraisal is reduced.

article thumbnail

Chat GPT For Fannie Form Appraisal Reports

Appraisal Today

The home was essentially hand-built from scratch, and it took two years to construct,” says listing agent Damian Hall, of Blackstream International Real Estate. One example is that mortgage appraisal work allows an appraiser to say: “I’m appraising it as repaired,” which is acceptable in some mortgage assignments.

article thumbnail

What Is Appraisal Review in Real Estate?

AmeriMac

This article discusses what an appraisal requires, why it needs to be reviewed and the methods involved in arriving at both conclusions. What Is an Appraisal? An appraisal is the fair valuation of a property based on a professional’s opinion, mainly if the payment method includes a mortgage. Cost Approach.

article thumbnail

Disagreeing with the Appraiser: Tips for Staying Compliant While Making Your Case

Genworth MI Blog

Withholding or threatening to withhold timely payment for an appraisal report or appraisal services rendered when the appraisal report or services are provided in accordance with the contract between the parties. A Few Basics. Market value has some key elements that we must understand.

article thumbnail

Disagreeing with the Appraiser: Tips for Staying Compliant While Making Your Case

Genworth MI Blog

Withholding or threatening to withhold timely payment for an appraisal report or appraisal services rendered when the appraisal report or services are provided in accordance with the contract between the parties. A Few Basics. Market value has some key elements that we must understand.