A real estate appraiser provides independent, expert opinions of property value, inspecting properties, analyzing comparable sales and market conditions, and producing formal valuation reports used in lending, sales, taxation, insurance, and litigation, in exchange for appraisal fees (typically...
Log in to followTwo numbers in this room don't fit together for me. A single family appraisal is $300 to $600, and AVMs or property condition reports already sit on something like 35 to 45 percen…
Under contract on a 1,280 square foot house on 6 acres in a county with maybe 90 arms-length sales a year. Contract price 148k, cash-out purchase money loan behind it, so the lend…
I've been sitting in on vendor demos for the new UAD format, the one in broad production since January with mandatory use coming November 2 this year, and I can't work out which d…
There is one certified residential appraiser covering my county and two adjoining ones. He's 63. Turn times on lender orders here run 3 to 4 weeks in season and I've had two deals…
First 4 unit, small older building, all two beds, contract at $560,000. Appraisal came back $489,000 and the loan died on it. I've lost the $650 appraisal fee, $1,900 in inspectio…
Duplex, contract at $410,000, lender ordered a 1025. There's a converted garage unit that's been rented at $1,400 a month for years, no permit on file, separate meter, own entranc…
First purchase, small 3 bedroom, and I have three numbers in front of me that don't agree. The county assessor site says 218,400. Zillow says 291,000. The accepted offer is 279,00…
Running the numbers on next year's mix for a small valuation practice and the two paths don't compare cleanly, so I'll lay out both and let the room argue. Panel work through mana…
Land parcel, 68 acres, mostly wooded with about 11 acres of cleared pasture and a gravel access easement. County reassessed it and moved the value up 41 percent in one cycle, whic…
House is under contract at $332,000, buyer's lender ordered the appraisal, it came back $314,000. Two of the three comps the appraiser used are older houses with original kitchens…
Reviewing a small pool of seasoned second liens, 22 loans, unpaid balances 18k to 96k, weighted average coupon 9.4, seasoning 14 to 31 months. Seller wants 88 of UPB. Collateral d…
I buy small second liens, mostly $30k to $90k balances, and through last year I was taking whatever value the seller had in the file. Usually an automated value, occasionally a tw…
I'm a few deals in and my ceiling right now is that I can't tell a good number from a hopeful one fast enough. Two people have suggested I get an appraisal license so I stop payin…
Duplex, both sides 2/1, bought it 26 months ago at 318k and put roughly 71k into it. New roof, both kitchens, one full electrical rework, exterior paint and a rebuilt rear stair.…
I took on a trainee in August. My state requires supervised hours before he can sign anything on his own, and the hour count and the co-signature rules vary by state, so anyone re…
I finished 900 square feet of basement myself, permits pulled, egress window, proper heat. House shows 1,600 above grade. The appraisal came back describing it as 1,600 square fee…
A residential appraisal firm in a mid-size metro is for sale. Two certified residential appraisers, both owners, one trainee about 700 hours into supervised experience. Broker pac…
Second offer accepted this month and the loan officer came back with a waiver from the automated underwriting run, so no appraisal ordered, no fee, and the file moves faster. She…
First appraisal I've ever watched happen start to finish. Small three bedroom, nothing unusual about it, lender ordered it for a purchase. The appraiser arrived, walked every room…
Wanted to get into valuation work. Found the qualifying education requirement for a trainee credential in my state, signed up for the package, paid $3,100 up front for the courses…