volume 10

Moisture & Mold: Steering Clear of Liability

The presence of mold is a contentious issue for building owners, builders, insurance companies, real estate agents and others. Mold addendums to sales contracts are now offered by many real estate boards for use by their members in sales transactions. As a professional appraiser or inspector you need to understand mold and all its… Read More

Speaking Like a Pro

Speaking Like a Pro By Mike Casey Professional phrases for common situations: Newbie: “This is stupid,” or “Geez, will you look at this!” Pro: “For increased safety, we recommend…” Or “For optimum performance we recommend…” Newbie: Instead of the “Code Word” say: Pro: “Not serviceable, nonstandard, substandard, unconventional, inadequate, temporary.” Newbie: “It’s old.” Pro: “The… Read More

Understanding Your Market

Editor’s note: Expert knowledge of your local market is key to expanding your practice into consulting and review assignments. Many banks and national appraisal firms employ “sub-contracted” independent appraisers for administrative reviews. According to the author, knowing your local market will helps you understand potential factors affecting future sales prices, instead of relying entirely on historic sales. Understanding… Read More

Live and Learn: Complaints, Errors, Actions

Live and Learn Complaints, Errors, Actions Blue Grass Missteps Larry Disney, Executive Director, Kentucky Real Estate Appraisers Board says that approximately 95 percent of all Kentucky complaints are real property appraisal assignments of one-four unit properties. He says the reasons for complaints vary but the most frequent violations are one of the following. * Not… Read More

Appraisers & Gramm-Leach-Bliley

Appraisers & Gramm-Leach-Bliley By Pat Butler Most appraisers have heard of Gramm-Leach-Bliley (Privacy Act) but few understand their obligations under the Act. Appraisers have disclosure obligations under Gramm-Leach-Bliley (GBL) when they are hired directly by a consumer to conduct an appraisal. Compliance means disclosing to the client whether any of their nonpublic personal information will… Read More