Saturday , 23 January 2021

Appraisal Assignments

4 Potential Benefits of Hybrid and Bifurcated Appraisals

A major selling point for completing hybrid or bifurcated appraisals is that the appraiser will save a good deal of time by not inspecting the property, not taking photos of comparable sales, and not sitting in traffic. However, the notion that an appraiser could complete a hybrid/bifurcated appraisal in less than an hour is simply too good to be true. …

Read More »

Bifurcated Appraisal: An Enhanced Desktop Appraisal

There are many articles, blogs, and opinion papers that either support or reject bifurcated and hybrid appraisals, which contributes to a great deal of confusion. Here at McKissock Learning, we do not support any position regarding bifurcated and hybrid appraisals. Our goal is simply to provide illumination and help you understand the advantages and challenges of these appraisal services so …

Read More »

12 Types of Expert Witness Assignments for Appraisers

There are many types of litigation where real estate appraisers can be helpful in providing evidence to the court. Many of these will require engaging the appraiser to perform an appraisal specifically for the case. Others will simply rely on a previous appraisal and call the appraiser to testify about it. Here are twelve types of expert witness assignments for …

Read More »

Checklist: What to Include in a Narrative Appraisal Report

Report writing is an essential step in the appraisal process. Want a quick breakdown of everything that belongs in a narrative appraisal report? Here’s an outline of the items that should appear in your report. Although you may not find it necessary to include every single item, you can use this as a checklist of topics to at least consider …

Read More »

5 Appraisal Assignments that Raise Your Liability Risk

As a professional real estate appraiser, it is simply not possible to eliminate liability entirely. Rather, the goal is to manage your liability. You can start by being aware of the level of risk involved in different types of appraisals. Some assignments come with higher liability risk than others—whether due to the type of client, the intended users, the number …

Read More »

Fannie Mae, FHA Issue Additional COVID-19 Appraisal Guidance

As the COVID-19 situation continues to unfold, users of appraisal services are continuing to issue updated guidance and information to appraisers.   Fannie Mae issued an update to Lender Letter 2020-05 on March 31, 2020. For appraisers, probably the most significant revision to their guidance was the removal of the “order of preference” for appraisal types. Formerly, the guidance had stated …

Read More »

The Many Benefits of Appraising Luxury Homes

Tired of competing with hybrid valuation products and dealing with low fees and unrealistic turn times? One solution may be to specialize in luxury real estate appraisal. We asked Jo Traut, appraisal curriculum and content specialist at McKissock Learning, to tell us all about the benefits of appraising luxury homes. Click the video below to get Traut’s insights into this …

Read More »

FHA and VA Issue COVID-19 Appraisal Guidance

Within the last several days, HUD/FHA and VA have both issued updated guidance for appraisers regarding appraisal scope of work and COVID-19. HUD issued Mortgagee Letter 2020-05 on March 27, 2020. On a temporary basis, appraisers are permitted to perform desktop or exterior-only inspection appraisals for FHA loans. This guidance is effective until May 17, 2020, although it may be …

Read More »