A Closer Look at Condition and Quality Ratings Last week I kicked off my “Understanding The Appraisal” series by discussing the Adjusted sale price of comparables. This week we’re going to look at the Condition and Quality Ratings assigned to the subject property. Prior to the introduction of the Uniform Appraisal Dataset (UAD), appraisers would […]
Understanding The Appraisal Part 1: What is “Adjusted sale price of comparables”?
February 22, 2022 By 13 Comments
Understanding The Adjusted Sale Price of Comparables I’m kicking off a short series to help readers of an appraisal report understand what they are looking at. It seems sometimes that the only two things that most people are concerned about with an appraisal are how fast can you get it to them and what is […]
Why Agents Should Identify FHA Issues Before The Appraisal
February 17, 2022 By 9 Comments
Ignoring FHA Issues Before the Appraisal Can Cost Time and Money We’re a microwave society. We want things done fast so we can move on to the next thing on our to-do list. The home buying process is no different. I’ve read that the goal in the mortgage business is to make it as quick […]
5 Things Agents Should Know About ANSI
February 9, 2022 By 13 Comments
House Measurement Tips For Agents I previously wrote about Fannie Mae’s recent decision to require all loans they purchase to adhere to the ANSI standard for house measurement. You can read that post here. While I know that most agents in my area do not measure their own homes I still believe it is important […]
Excess Land vs Surplus Land, What’s The Difference?
February 1, 2022 By 19 Comments
How is Additional Land Valued In an Appraisal? When I started my appraisal blog part of my mission statement was that I wanted to inform and educate consumers and anyone else who wanted to learn about how and why appraisers do what they do. As is the case almost on a weekly basis I had […]
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