article thumbnail

Market Value: Who Says What It Is?

McKissock

Property appraisers don’t dictate what the value is. Many years ago, an appraiser friend (Ben was his name) asked me to go along on a challenging appraisal assignment to aid in data collection. On the way he needed to drop off an appraisal report to a lender client.

article thumbnail

Top 10 Things Appraisers Wish Real Estate Agents Understood

McKissock

” “The amount of knowledge, continued education and diligence it truly takes to provide an excellent work product for the property appraisal.” ” Appraisers do not assign value “Appraisers do not dictate a home’s value, the market does.” Was the seller highly motivated?

Insiders

Sign Up for our Newsletter

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

article thumbnail

Mortgage Term Glossary

Assurance Financial

During an appraisal, a professional will evaluate your home’s condition, how much similar homes have sold for recently and the overall market to determine the value of your home. The appraisal can be more than the price of the house or it can be less. If the buyer backs out of the sale, the seller gets to keep the earnest money.

article thumbnail

What’s that Smell Worth? Insights from a Seasoned Appraiser

McKissock

Free Download: Ready to launch your appraisal career? Find out how to become a property appraiser our free guide. How do appraisers address these odor issues? There is not a lot of data out there on which houses sold with dander, feces, and urine issues and which did not.

article thumbnail

What’s in a Sales Contract? Insights from a Seasoned Appraiser

McKissock

And although it shouldn’t, it may unintentionally influence the appraiser’s comparable selection and eventually impact a direction in value. Maybe looking at the sales contract only after developing the appraiser’s opinion of value would help avoid the above concern? When contract prices and value often differ.

article thumbnail

How to prepare a comparative market analysis (CMA) report

Housing Wire

A CMA report includes information on similar, comparable properties in the area, including recent sales, active listings and current market trends. Like you, as a real estate agent, I have prepared many reports analyzing pricing trends to help provide guidance to buyers, sellers and investors alike.

Marketing 378
article thumbnail

20 Awesomely Functional Gifts for Real Estate Investors [2021]

The Robert Weiler Company

It also contains a members-only marketplace that encourages networking and relationship building among the industry’s top real estate buyers, sellers, and financiers. Some of those perks are an increased volume of property analysis and rent estimator reports, and access to exclusive videos, articles, and webinar replays.