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9 tips for homebuyers in non-disclosure states

Housing Wire

Without sales figures, it’s difficult to access comparable sales, and home buyers may find it challenging to gauge the fair market value of a property. Buyers should focus on other factors when estimating a property’s value , such as location, condition of the home, local amenities, and current market trends.

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Market Value: Who Says What It Is?

McKissock

The standard residential appraisal report form’s definition of Market Value states in part: “ Implicit in this definition is the consummation of a sale as of a specified date and passing of title from seller to buyer under conditions whereby: buyer and seller are typically motivated…”.

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Unanswered Questions – Part 1

Appraisal Buzz

Fannie Mae defines market value in part as “the most probable price that a property should bring…” Thus, probability is the very foundation of the most common definition of market value. In other words, why are appraiser estimating market value below the contract price so often?

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Home Seller Closing Costs in Texas

Listing Spark

One of the most common questions we get from our home sellers at ListingSpark is “How do I determine what my closing costs are”? For this article, we are going to focus on the home seller closing costs we would typically see in Texas with a residential sale (commercial sales typically have a different set of fees).

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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. For purposes of this monograph, please assume the standard Fannie Mae definition (here by reference). These definitions, prima fasciae, are at odds with each other. percent from 6.73

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4 Investment Property Strategies Any Beginner Can Master

McKissock

As a wholesaler, you need to find a property for sale, acquire a contract from the seller, identify a buyer, and assign the contract to him or her. The only costs you have to cover are those for finding a property for sale and for marketing the property to interested buyers. How the fix-and-flip investment strategy works.

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Appraiser Has Very Big Problems With Borrower

Appraisal Today

During the two-year renovation, the seller, who bought the home in 2017, updated the kitchen with a Bosch cooktop, Gaggenau appliances, and soft-close doors. Note this definition does not condemn someone for the mere act of anchoring but states that condemnation is oriented to someone who relies too heavily on a specific piece of information.