Editor’s Note: Here are a few helpful tips on how to facilitate the real estate purchase process, from appraisers to real estate agents/brokers (with love). Comments were gathered from an online thread.
To Agents with Love (from Appraisers)
The quality of our work improves when we have more information. The more information agents can give…
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by Isaac Peck, Associate Editor
The appraiser community is still reeling from the decision of a Florida bankruptcy judge to absolve JPMorgan Chase of all liability in the case of Evaluation Solutions/ES Appraisal Services (ESA) bankruptcy case.
Over 10,000 real estate appraisers and agent/brokers were left unpaid by…
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by Roy Meyer
Imagine your appraisal business built primarily around non-lender work and continuing to grow every night while you sleep. Imagine having a dedicated team committed to the success of your appraisal business and taking extended vacations while your business doesn't skip a beat. Imagine…you fill in…
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“Low Bid” Appraisal Ordering and Its Effect on Quality
by Isaac Peck, Associate Editor
Any appraiser who has worked with Appraisal Management Companies (AMCs) is likely familiar with the “order by email-blast” system that some AMCs rely on to fill orders.
The process goes like this: an AMC sends an email blast to all appraisers within a…
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by David Brauner, Editor
We hear a lot of appraisers complain that illegal influence continues today despite new federal and state regulations designed to remove it from the process. This survey hopes to shine light on what some of you are experiencing. The results are mixed.
Over 1,000 appraisers participated in the survey;…
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Real Estate Appraiser Insurance OREP Insurance Services is a leading provider of Appraisers Errors & Omissions Insurance for real estate appraisers. In addition to the lowest rates and broadest coverage, that is customized for real estate appraisers to fit their individual appraising needs, OREP provides timely information to help appraisers limit their liability and increase…
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A recent lawsuit filed against Stearns Lending and its AMC, Trimavin, by the AMC’s former Chief Appraiser, Katherine A. Scheri, alleges that many of the practices that led to the extensive regulation of the appraisal industry are alive and well at one AMC/lender at least.
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Editor’s Note: At OREP, we see that incorrect measurements are the cause of many E&O claims. Here are some tips on staying out of trouble. How to Report Building Areas Accurately (and avoid measurement mistakes) by Mark S. Langhamer As appraisers and review appraisers, some of us have seen fellow appraisers relying on building area...…
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Alternately, you can envision this hard time as an opportunity to position yourself with a slightly modified appraisal practice in the near future.
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Proving Appraisal Adjustments By Beverly A Bayer, SRA – Mvappraiser@yahoo.com When I began appraising, I asked my mentor what adjustments to use- he said, “Figure it out for yourself.” So I did. Here’s what I learned. When my mentor left the office, I studied his appraisals and began using his adjustments. Many years later, I…
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