Editor’s Note: Author Phil Spool, ASA, represents appraisers, E&O insurance companies and lenders as an expert witness for the prosecution as well as for the defense. In this story, he shares the reason why appraisers get sued. Why Appraisers Get Sued by Philip G Spool, ASA Lawsuits can be divided between those you cannot control...…
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Editor’s Note: These common errors to avoid are time-saving tips excerpted from the webinar Maximizing AMC Orders and Income presented by appraiser Bryan Knowlton and offered through OREP/Working RE Webinar Series.
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I have reviewed many appraisal reports where the appraiser performs the Cost Approach just because the client requests it, even though it is not considered a credible approach to the market value of the subject property. I see some of the same boilerplate statements in these reports, such as “due to the lack of…
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Editor’s Note: “Appraiser Coach” Dustin Harris says cutting the time it takes to appraise does not necessarily mean cutting corners-in fact, he says, there are ways to save time and increase quality.
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Editor’s Note: Here are details on a new “recovery” fund designed for appraisers who are owed money by bankrupt AMCs. AMC “Recovery Fund” for Appraisers First of Its Kind by David Brauner, Editor More than one appraisal management company (AMC) has shuttered its doors owing millions of dollars to appraisers in unpaid fees- now one…
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Editor’s Note: Appraiser Nelson Boswell shows us how to leverage new appraisal independence laws into more business. Making “Appraisal Independence” Work for Your Business by Nelson Boswell, Jr., SRA New federal legislation is leading to greater “appraiser independence” for many, but not in the way legislators intended. Smart appraisers are using the new laws to…
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What I like about writing these articles is the research it takes for accuracy and current terminology. For many years I was taught that accrued depreciation was depreciation from all causes, which consists of physical deterioration, functional obsolescence and external (locational and economic) obsolescence. This term is also used with those who value businesses…
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Editor’s Note: What seems to bother appraisers most these days, even more than low fees, are what they consider to be "unnecessary" challenges to their reports by AMC staff who, in many instances, appear to be less than qualified.
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Most appraisers cringe at the very mention of “marketing.” If you played word association with a group of appraisers using “marketing” as the target, they’d throw out “waste of time,” “snake oil,” “corporate suits,” and so on. They might even suggest some unprintable words and phrases. Very few in the group would say, “The single…
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Lagow was an appraisal manager and assistant vice president at Landsafe, Inc., the appraisal subsidiary of Countrywide, a position which gave him an inside look at the practices which caused the downfall of the largest mortgage lender in America. For his part, Lagow sees Countrywide as being at the heart of both the housing bubble…
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