FHA Appraisal Requirements – Agents/Brokers Master the Art of FHA Appraisals By Isaac Peck, Associate Editor Appraising real estate can seem like a mystery, even for experienced real estate agents. FHA appraisal requirements can also cause problems for many real estate deals, leading to frustrating delays and even lost sales. As more and more…
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The trend among users and providers is to have the appraiser focus on their “critical thinking” time. So just how much time is involved in an appraisal and how many decisions does an appraiser have to make?
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Many agents and brokers argue that lack of appraiser geographic competency can cause otherwise good real estate deals to fall through. To address this problem in Louisiana, Realtors and appraisers have worked together to pass legislation requiring AMCs and lenders to pay a Customary and Reasonable fee to appraisers. These new regulations are expected to…
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New lending guidelines are causing a spike in complaints to appraisal boards nationwide, and with it, more headaches for real estate appraisers. With borrowers now able to obtain a copy of their appraisal upon request, and agents/brokers attempting to intimidate appraisers by blaming low values on “bad appraising,” frivolous complaints to state boards are a…
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New lending guidelines are causing a spike in complaints to appraisal boards nationwide, and with it, more headaches for real estate appraisers. With borrowers now able to obtain a copy of their appraisal upon request, and agents/brokers attempting to intimidate appraisers by blaming low values on “bad appraising,” frivolous complaints to state boards are a…
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State Board Complaints: Expert Consulting Service “I wish I could’ve come across the story on consent decrees before I signed one many years ago. While I argued my way out of six of the eight violations (because they were false allegations), I realized after having spoken to another Working RE author and USPAP instructor that…
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There is some very good news for appraisers regarding fulfillment of the promise of customary and reasonable fees, as envisioned by the framers of Dodd-Frank. For now, the good news extends only as far as the borders of the state of Louisiana but new legislation has the potential to change the rules of the game…
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Many appraisers insist that despite appraisal reform, pressure to influence value remains. Compliance is still rewarded, they say, and stubborn independence is all too often punished. Here is a case in point that is gaining national attention.
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It doesn’t take long to figure out that the electrical needs of homes in the 21st century far surpass those of homes that were wired in the 1920s. Often, while inspecting older homes, I will still find electrical systems that are considered antique and cannot reasonably or safely handle today’s electrical loads.
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Home inspectors are not performing code compliance inspections, however, the wise inspector should be familiar with the various codes used in his area.
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