Housing Wire

JUNE 11, 2021

An appraisal is a valuation of a property by a third party. If the appraised value ends up matching or is higher than the contract price, the transaction can continue as planned. Should the appraisal come in lower than the contract price, the closing process may be impacted. The buyer typically covers the cost of the appraisal.

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Inspection Appraisal Buyers Appraisal Process 431

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Sign up now. Blog post: 9 Ways to Handle Appraisal Pressure.

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Appraisal Contracts Market Value Clients 103

Cleveland Appraisal Blog

JUNE 18, 2022

In high-stakes eminent domain cases, where valuation opinions diverge to a significant degree, an appraiser must be prepared to zealously defend the opinion being given under what can sometimes be grueling cross-examination by the other side’s lawyer. USPAP and the Contract – Tim Andersen, The Appraiser’s Advocate Podcast.

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Appraisal Law Development Valuation 309

Housing Wire

SEPTEMBER 7, 2023

“The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said. I think listing agents are going to win. Fannie Mae, Freddie Mac and the U.S.

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Buyers Agents Loan Officers Real Estate 382

Raleigh Realty

MARCH 23, 2021

And while that may be enticing, there are many other costs and legal repercussions that are associated with selling a home that will be the full responsibility of the seller if a real estate agent is not involved. What Real Estate Contract do I Use When Selling For Sale By Owner?

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Real Estate Agent Real Estate Realtors Contracts 133

Housing Wire

JULY 12, 2022

A certification lightens the legal liability of bias. Both desktop and hybrid appraisals, according to Fannie Mae, “have the benefit of reducing contact between borrowers and appraisers, thus lowering the likelihood of valuations being affected by personal or unconscious biases.”. The seller accepts it; they go into contract.

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Appraisal Inspection Real Estate Agent Training 408

Appraisal Today

APRIL 26, 2024

What should appraisers look for in a sales contract? In the 1930’s, appraisers (then known as valuators) were instructed to follow a rating system. Appraisers/Valuators were tasked with gauging the level of “protection” against these adverse influences or assessing the associated “risk” they posed. … percent from 7.13

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Appraisal Real Estate Real Estate Agent Contracts 76

Listing Spark

OCTOBER 25, 2023

However, these automated valuations may not always account for unique features or the latest market dynamics. These comps, provided by real estate professionals, offer a more tailored valuation based on MLS data from similar recently sold properties in your area. Failure to do so can lead to legal issues post-closing.

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Sellers Legal Real Estate Real Estate Agent 36

Eppraisal

JANUARY 29, 2023

In this posting, we will follow the acts of contract negotiation and legal settlement when undeveloped land changes ownership. Other information on the land is there, too: square footage/acreage, legal address, assessed value and the last sales price, to name a few. As a result, this valuation often exceeds assessor estimates.

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Development Counter Offer Easement Legal 36

Housing Wire

NOVEMBER 16, 2023

Real estate forms : It is said that a contract is only as good as the paper it’s written on, and real estate purchase contracts are written on template legal documents that have been reviewed and approved by state-level real estate departments. And it needs to be unlocked.

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Realtors Contracts Real Estate Agents 396

Appraisal Today

JUNE 23, 2023

By collaborating with appraisers, accountants can provide clients with comprehensive financial guidance, ensure compliance with legal and tax requirements, and strengthen their overall professional services. When it comes to buying or selling a home, we all need and deserve fair and nondiscriminatory home valuations.

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Appraisal Real Estate Valuation Contracts 86

McKissock

JANUARY 6, 2023

There are appraisal jobs available in the lending sector, such as staff appraisers, review appraisers, fee panel managers, and with experience and time on the job, chief appraiser and valuation compliance officer jobs can be found. They all handle land and building acquisitions and dispositions, as well as condemnation valuations.

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Appraisal Training Lending Land Management 74

D Fritz Appraisals

MARCH 16, 2021

Be Prepared for an Appraisal for a Positive Impact on Your Home’s Valuation. The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property. The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property.

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Appraisal HOA Easement Valuation 126

Appraisal Today

NOVEMBER 4, 2022

They really appreciate it, and it ensures you can complete assignments on time as you had planned (no one likes waiting for a legal description only to have it show up on your day of 4 inspections!). It ruled that the lender did not owe the borrower a legal duty to assure that the independent appraiser’s valuation was correct.

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Reconsideration of Value Appraisal Inspection Advertising 52

The Robert Weiler Company

APRIL 20, 2021

Have you watched shows such as Shark Tank or The Profit and wondered how Kevin O’Leary or Marcus Lemonis calculate business valuation? That’s why we surveyed our business valuation experts, captured the 12 most frequently asked questions, and provided answers that can offer the guidance you need. So, how are businesses valued?

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Valuation Business Buyers Market Value 147

AmeriMac

JULY 25, 2022

Home negotiations can be deadlocked because of the valuation differences of a property by both prospects and homeowners. An appraisal is the fair valuation of a property based on a professional’s opinion, mainly if the payment method includes a mortgage. Resolves Legal Conflict. What Is an Appraisal?

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Real Estate Appraisal Valuation Clients 36

Aedis Appraisals

JANUARY 12, 2018

With a long-standing history of providing intricate assessments for various legal organisations, insurance companies, and private market financiers, the top-rated real estate appraisers in Vancouver are able to complete all of the following tasks: Direct comparisons to adjacent properties and neighbouring buildings. Impartial disposition.

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Real Estate Appraisal Valuation Legal 36

Empire Appraisal Group

JULY 1, 2021

Look up the legal description of the property and include a copy of the most recent tax bill, which can show whether the home is in a special tax district, said Maureen Sweeney, a residential real estate appraiser and member of the Illinois Real Estate Appraisal Administration and Disciplinary Board.

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Agents Appraisal Real Estate Realtors 78

Birmingham Appraisal

SEPTEMBER 26, 2023

Outlier sales often lack suitable comparables, making it challenging to apply the traditional valuation approach accurately. Legal Implications If a buyer or seller relies on an inflated outlier-based list price to make a significant financial decision and later faces financial hardships as a result, they may pursue legal action.

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Real Estate Agent Real Estate Clients Agents 87

Appraisal Today

MAY 10, 2024

This is the statement in the HUD/FHA ML-2024-07: “This included guidance to improve the established process by which FHA program participants may request an ROV if the initial valuation is lower than expected.” There is administrative time involved, as well as legal factors. Was it the borrower? First, the burden on borrowers.

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Reconsideration of Value Appraisal Real Estate Insurance 73

Appraisal Today

APRIL 14, 2023

Our opinions are sought for work as varied as bankruptcy, estate, charitable contributions, pre-listing, before-and-after valuation, among other reasons. As it is, roughly two-thirds of residential press As it is, roughly two-thirds of residential property valuations are aimed at Fannie and Freddie Mac mortgages. Worth reading.

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Appraisal Bracketing Contracts Valuation 52

The Robert Weiler Company

OCTOBER 21, 2022

So, take a deep breath, read on, and be prepared to gain a deeper insight into this important topic of commercial real estate valuation. Note: A commercial property valuation is considered the equivalent of an appraisal, and the words are sometimes used interchangeably. You may need a commercial valuation for many reasons.

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Real Estate Appraisal Property Appraisal Valuation 60

Appraisal Today

MARCH 31, 2023

Fannie Mae: Appraisals are no longer the default option: Value Acceptance replaces Appraisal Waiver Fannie Mae updated its Selling Guide on March 1 to include more options for property valuations, saying that they are “moving away from implying that an appraisal is a default requirement.” This is nothing new. percent from 6.71 percent from 6.44

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Appraisal Contracts Inspection Clients 52

The Robert Weiler Company

OCTOBER 15, 2021

Another mistake – perhaps one of the more obvious (and, consequently, most detrimental) mistakes – is contracting the commercial property for sale in your personal name. As noted within the beginner tips above, the valuation of a property is a fundamental step in commercial real estate investment.

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Investing Real Estate Tenants Investors 138

Appraisal Today

AUGUST 26, 2022

Can I use the cost approach as the primary method of valuation?”. In fact, Fannie Mae will not purchase a mortgage on a property if the cost approach is the primary or only method of valuation used. To read lots of details, including the legal ruling, plus appraiser comments, click here. ==. Answer: No! percent from 5.45

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Appraisal Business Contracts Advertising 52

The Robert Weiler Company

SEPTEMBER 19, 2022

A simple conservation easement definition is a legal contract to protect private land, permanently. A contract between the landowner and the buyer is legally binding. A land trust is a legal entity that assumes ownership of purchased property. The entity controls the land according to the terms of the contract.

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Easement Legal Government Contracts 148

AmeriMac

MAY 24, 2022

Qualification begins with making sure an appraiser at least meets any applicable state or local requirements, and most AMCs also only contract with appraisers who have standard industry certifications and/or memberships. The segregation that AMCs provide came to light with the post-2008 Home Valuation Code of Conduct (HVCC).

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Appraisal Lending Finance Appraisal Process 36

Appraisal Today

JULY 8, 2022

By Peter Christensen, Founder of Valuation Legal. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.74 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,200) decreased to 5.28

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Appraisal Property Taxes Contracts Mortgage 52

Portland Appraisal Blog

APRIL 14, 2019

There has been a meeting of the minds, the contract has been signed and everyone is anticipating a smooth closing. Richard Hagar , a nationally recognized appraiser and valuation expert, points out the various reasons why an ROV may be necessary: To correct a serious mistake of material deficiency in the original report.

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Appraisal Reconsideration of Value Agents Market Value 78

The Robert Weiler Company

MAY 14, 2021

Operationally, it triggers a series of legal processes necessary to reallocate ownership of assets and belongings from the deceased to their beneficiaries. Settling an estate usually requires probate, the legal process reassigning ownership from a deceased person to their living beneficiary performed in court.

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Real Estate Appraisal Legal Valuation 133

Housing Wire

AUGUST 4, 2023

And when it’s time to wade through complicated contract language or explain the benefits or drawbacks of a property, agents who communicate better have a leg up on their competition. Decipher property valuation software for clients? Real estate professionals who listen carefully better understand their clients’ wants and needs.

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Real Estate Agent Real Estate Agents Clients 346

The Robert Weiler Company

SEPTEMBER 16, 2021

The goal of a real estate valuation is to pinpoint the price and value of a property. The two main reasons behind obtaining a commercial real estate appraisal are buying and selling commercial property and legal governance. In addition, there are four main methods for calculating a commercial real estate valuation.

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Real Estate Appraisal Property Appraisal Valuation 147

Simonson Real Estate

JULY 10, 2020

Helpful information includes tax parcel numbers, legal descriptions, number of buildings, building size, etc. Leased Fee Interest – Defined as the ownership interest held by the landlord, which includes the right to receive the contract rent specified in the lease plus the reversionary right when the lease expires.

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Appraisal Process Appraisal Market Value Tenants 148

Clear Capital

JUNE 21, 2022

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry. Valuation Equity.

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Valuation Technology Lending Real Estate 69

Appraisal Today

FEBRUARY 16, 2024

Historical Properties and Their Unique Appraisal Approaches Excerpts: Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.87

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Appraisal Contracts Training Architecture 80

Simonson Real Estate

DECEMBER 6, 2022

Helpful information includes tax parcel numbers, legal descriptions, number of buildings, building size, etc. Leased Fee Interest – Defined as the ownership interest held by the landlord, which includes the right to receive the contract rent specified in the lease plus the reversionary right when the lease expires.

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Appraisal Process Real Estate Appraisal Renovations 78

Houston Properties

JANUARY 13, 2021

Get a free home valuation for your house and trends in your neighborhood. Properties are still going under contract. Based on last year’s sales data, the number of homes that have gone under contract is still consistent with figures prior to the coronavirus and the oil price crash. Remember: real estate is hyper-local!

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