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pre-appraisal tools

How Pre-Appraisal Tools Improve the Home Appraisal Process

By Alex Todak / October 1, 2022 /

If you’re a mortgage loan officer and not taking advantage of pre-appraisal tools, your clients could be paying the price with higher fees and longer turnaround times. Read on to learn why pre-appraisal tools are the perfect solution for providing a better borrower experience and, for loan officers, how these tools can expedite the process…

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seller concessions

How Seller Concessions Impact a Home’s Appraised Value

By Alex Todak / September 6, 2022 / Comments Off on How Seller Concessions Impact a Home’s Appraised Value

Seller concessions are costs the seller agrees to cover for the buyer’s closing fees on a home purchase. As purchasing a home is a big financial investment, negotiating seller concessions can help homebuyers with closing costs, which typically amount to 3% or less of the purchase price and are paid out of pocket by the…

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home appraisal inspection

Preparing for a Home Appraisal Inspection

By Alex Todak / August 1, 2022 / Comments Off on Preparing for a Home Appraisal Inspection

When selling your home or refinancing your mortgage, the home appraisal inspection is a crucial step in the process. You want your home’s appraised value to be as high as possible in the final report.  Most home buyer offers are contingent on a mortgage lender approving their loan to purchase the home. But if the…

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sales price and appraisal value

Sales Price vs. Appraisal Value: What’s the Difference?

By Alex Todak / May 1, 2022 / Comments Off on Sales Price vs. Appraisal Value: What’s the Difference?

When you sell or buy a home, the sales price and appraisal value don’t always match up, and this discrepancy can lead to a change in the purchase price or dissolve the deal altogether. Therefore, it’s essential to understand how these numbers can differ and how the sale can still proceed when there is a…

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home appraisal contingency

Understanding the Home Appraisal Contingency

By Alex Todak / April 1, 2022 / Comments Off on Understanding the Home Appraisal Contingency

When buying a home, an appraisal contingency can serve as a safety net. If the home you want to purchase appraises for less than the price you agreed to pay, it gives you negotiating power with the seller. It also allows you to walk away from the deal without losing your deposit, should the seller…

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how multiple offers impact the appraised value

How Do Multiple Offers Impact a Home’s Appraised Value?

By Alex Todak / March 1, 2022 / Comments Off on How Do Multiple Offers Impact a Home’s Appraised Value?

In today’s real estate market, it’s not uncommon for a house to receive multiple offers and sell above the asking price. In fact, depending on your market, this may be the norm at the moment. But just because a home sells for more than the asking price doesn’t always mean the appraised value will match. …

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top appraisal industry trends

Appraisal Technology and the Future of the Appraisal Industry

By Alex Todak / February 4, 2022 / Comments Off on Appraisal Technology and the Future of the Appraisal Industry

While most mortgage brokers and lenders use financial technology (fintech), the same can’t be said for the appraisal industry. While a home loan can be processed in 10 days, the national average time to turn around a real estate appraisal is 17 to 20 days.  The question then becomes, “How can the appraisal industry streamline…

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home renovations

Highest ROI: Top Home Renovations

By Alex Todak / December 16, 2021 / Comments Off on Highest ROI: Top Home Renovations

There’s no doubt that 2021 was a hot real estate market, but there was another hot market this year, and that was the renovation market. Because of a lack of inventory, many homeowners opted to stay put in their homes and create their dream home in their current home. This is a trend we will…

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Multifamily Property Appraisals

The Challenges of Doing Multifamily Property Appraisals

By Alex Todak / November 11, 2021 / Comments Off on The Challenges of Doing Multifamily Property Appraisals

Doing multifamily property appraisals can be very challenging because they aren’t done the same way as either single-family home or apartment building appraisals. In fact, a multifamily property appraisal is quite different from either. In part, this is because a multifamily property is most often used to produce income rather than as a place for…

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What COVID-19 Has Taught Us About Appraisals

What COVID-19 Has Taught Us About Appraisals

By Alex Todak / October 13, 2021 / Comments Off on What COVID-19 Has Taught Us About Appraisals

The entire housing market has seen a lot in the past 18 months or so, and the appraisal industry is no exception. With all that’s happened since the COVID-19 pandemic started, we can all safely say that we’ve learned quite a bit. So, now the question is, what have we learned about the appraisal industry…

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What AMCs Do and Don’t Do

What AMCs Do and Don’t Do in the Appraisal Process

By Alex Todak / September 3, 2021 / Comments Off on What AMCs Do and Don’t Do in the Appraisal Process

Appraisal Management Companies (AMCs) are one of the newest additions to the real estate industry. AMCs were created from Dodd-Frank to separate mortgage brokers from appraisers, protect the market from inflated and/or biased values, and facilitate the entire appraisal process. In addition to managing the appraisal process, AMCs must also consider the perspectives and needs…

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Responsibility of appraisers

The Responsibility of Appraisers

By Alex Todak / September 1, 2021 / Comments Off on The Responsibility of Appraisers

As an AMC, we spend a lot of time talking and thinking about the responsibility of appraisers in the housing market and the vital role they play. We’re so grateful for the many incredible appraisers we work with daily and are always looking for ways to help our appraisers be more efficient and generally better…

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