There’s a great number of things that the Appraisal Buzz is working on to supply appraisers with the most accurate and up-to-date information as possible. The Appraisal Buzz would like to introduce you to The Appraisal Buzzcast, our new podcast! With hot-topics emerging everyday such as market trends and the current pandemic, you’ll be informed with the best information available.
We will be hosting episodes with leaders and experts in the appraisal industry about events and news occurring today. You’ll hear great advice and tips as an appraiser, so tune in as you drive to your next inspection!
Our first topic is Arm’s Length Transactions. What are they? Why are they important to an appraisal? What are some examples? These questions and much more were answered while Tony Pistilli and Josh Walitt shared their expertise on the subject of Arm’s Length Transactions. Future Appraisal Buzzcast topics will include Business as (Un)usual: Addressing Appraisals in the COVID-19 Crisis by Metro-West Appraisal Co., LLC and Covid Considerations now and the Future with Joan Trice of Allterra Group and Matt Simmons of Maxwell, Hendry & Simmons, LLC. You can expect a new episode every few weeks!
When asked, “What is an Arm’s Length Transaction?” after a specific example given by the mediator, Karen Connolly, VP of Operations of Allterra Group, Josh Walitt concluded his answer with
(7:58) “…We’re not necessarily looking at value, we’re looking at their (the buyer) interest. Right? So, this person wants to sell it, they don’t want to own this house, they’ve inherited it, it’s something they don’t want – that’s their best interest. Their best interest is to say ‘realtor, I want it priced to sell.’ So, it may sell for less than market value, but we are still likely talking about an arm’s length transaction because you two are not related – you might see each other in passing, who knows, you may even know each other better over the years, but you are each still acting in your own best interest.”
We’re excited to have the Appraisal Buzzcast ready for your listening today! Get cutting edge news while driving to your inspections, participate in debates, and so much more. Tune in on Apple Music, Radio Public, Lisbyn, Spotify, or wherever else you may listen to your podcasts!
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