| Subject | Date Asked |
|
| Appraisal Fraud | 9/24/2008 |
Q: We signed a contract to have a brand new home built in a new neighborhood in Phoenix in July 2005 ...
A: In response, my first question to you would be, why did you wait until now to review your original ...
|
| fha refi appraisal mistakes | 9/23/2008 |
Q: We had our house apparaised for a refi fha loan. A few years ago our house was appraised by the ...
A: Your only recourse is to hire a competent local state ceritified appraiser to inspect your home, ...
|
| Impacts of going from 2/2 to 1/2? | 9/22/2008 |
Q: My wife and I own a fixer home that is 2 bedrooms and 2 bathrooms in 972 sq ft spread across two ...
A: Your question requires a lot of local market research. You should hire an appraiser to answer your ...
|
| Appraisals | 9/16/2008 |
Q: Is there an industry standard margin of error for residential realestate Appraisals? ANSWER: Hi ...
A: Peter, If there is a large difference between the two appraisals, then an expert must be called in ...
|
| Appraisals | 9/15/2008 |
Q: Is there an industry standard margin of error for residential realestate Appraisals?
A: Since an appraisal is based on a research of factual data, there is no "margin of error". The data ...
|
| Land appraisal | 9/8/2008 |
Q: I have a single family home on a 75X200 lot. I want to sell the home with a 75X112 land and sell the ...
A: If you are unable to find vacant land to compare to, then you will need to derive your value by the ...
|
| Maryland appraisals | 9/5/2008 |
Q: Hope this makes sense, but do you know if it legal to have competing loan companies do their own ...
A: As for Maryland laws, I do not know if there are any laws broken in your scenario. However, as for ...
|
| type of valuations | 8/28/2008 |
Q: could you discribe a few types of valuations found on a home appraisal. Thank you
A: Good Morning Debbie, There are three approaches to value involved in residential appraisals: 1) ...
|
| taxes relocation company | 8/27/2008 |
Q: "Hello Jim, I am grieving my taxes & have been told that I bought my property for well under ...
A: I do not know what state your property is located in, however the following answer is the tyipcal ...
|
| fha buyer | 8/25/2008 |
Q: I am looking at a bank owned property ready to go into foreclosure, the house has been trashed, no ...
A: Good Morning Mary Ann, FHA does have programs that allow purchases of properties that are in need ...
|
| appraisal | 8/23/2008 |
Q: i recently paid for an appraisal which to be done for fha and when the appraiser turned it in to the ...
A: Unfortunately, as the borrower, you do not have much recourse as you are not the appraiser's client. ...
|
| Appraisal report using same neighborhood comps | 8/19/2008 |
Q: Recently had 2 appraisal reports completed that "considered but did not use" very recent sales comps ...
A: Good Morning RJ, There are certain standards and criteria that an appraiser must use in determining ...
|
| Appraisal Misrepresentation of Property | 8/18/2008 |
Q: An Appraiser misrepresented my property location and stated that it was in a flood zone and is not. ...
A: Good Morning Portia, You will need to retain an attorney and provide the evidence you have to the ...
|
| Appraisal fees | 7/22/2008 |
Q: We are going to refi out current 1st mortgage. It will be a 15 year fixed FHA loan thru Capital ...
A: First, you will need to clarify. Who billed you? The appraiser or Capital One? If it was Capital ...
|
| Appraisal for refinance vs selling | 7/15/2008 |
Q: Is there a difference in an appraisal that is used for the purposes of refinancing vs the purpose of ...
A: Although both types of appraisals have intended uses, the appraiser completing the assignment ...
|
| Apprasal | 7/15/2008 |
Q: i recently had my home appraised. When the value came back alot lower than expected I read through ...
A: Mike, Unfortunatel, I am unable to answer exactly how the appraiser determined the value of your ...
|
| FHA appraisal | 7/14/2008 |
Q: We are currently in a binding agreement,expecting to close june 15.We have been approved for fha ...
A: Good Morning, The actual liability falls on your loan officer and Realtor for telling you that the ...
|
| New Construction Appraisal | 6/25/2008 |
Q: Jim, We are set to close this week on a new construction. The appraisal just came in at $11,000 ...
A: Good Morning Tom, The purpose of the appraisal is to reflect the intentions of willing buyers and ...
|
| Appraisal for property tax purposes | 6/21/2008 |
Q: What constitutes "living area"? Our upstairs is a large area but only 1/3 is heated. The rest is a ...
A: Alan, Appraisers are required to follow the standards set forth by the American National Standards ...
|
| New Home Property Valuation/Appraisals | 6/19/2008 |
Q: I am currently building a new home in Ohio. The original amount of the home was disclosed and ...
A: Good Morning Crystal, As for paying the original agreed upon amount of your contract, that is ...
|
| Valuing a house with a unique feature | 6/7/2008 |
Q: We have had our home in the Buffalo area on the market for over 6 months. Our home has an indoor ...
A: Good Afternoon Irene, Your question is a very common one of homeowners that feel they have a unique ...
|
| appraisal discrepancy | 6/1/2008 |
Q: What is the main resource an appraiser uses when determining the value of property? We had an ...
A: Please keep in mind that I am disclosing to you up front that I am not an expert on farm or farmette ...
|
| refi & cash out on my home. | 5/13/2008 |
Q: In the next day or so I am to have a home appraiser come by to give me my homes worth,and what he'll ...
A: Good Morning Larry, Part of the appraisal process is interviewing homeowners and other persons ...
|
| Fencing | 5/10/2008 |
Q: Does fencing in your backyard add value to your home? And if so approximately how much?
A: Simple answer: If the typical buyer in your neighborhood recognizes value for an improvement, then ...
|
| Tax appraisal | 5/5/2008 |
Q: My house residence 2008 county tax appraisal went up significantly-13%. The majority of my Texas ...
A: Dave, There is no way to advise you whether to appeal your tax assessed value without knowing how ...
|
| Appraisal | 5/4/2008 |
Q: My broker told me that if I live in Texas and pay 65K for a 97K house then my taxes would be on the ...
A: I am an appraiser in Florida, therefore I can't speak for the laws in Texas. In Florida, we are ...
|
| valuing 99-year lease property | 4/30/2008 |
Q: I've recently been given an assignment to appraise a new construction on a 99-year lease. Do I ...
A: You do complete the assignment on a 1004 and check the leasehold box for the property rights ...
|
| How To Get Public Records of Sold Properties? | 4/24/2008 |
Q: I am contemplating on buying a TownHome in Irvine, California. What would be the best way to get ...
A: Good Morning Henry, I am not familiar with the property appraiser's site in Orange County. I did a ...
|
| Doublewide Trailers do the increase in value | 3/31/2008 |
Q: I'm in the process of looking at doublewide trailers for the purpose of buying a home. My question ...
A: Good Morning Tammy, Manufactured homes, whether single wide or double wide, typically depreciate ...
|
| GLA or Not GLA | 3/19/2008 |
Q: I have a subject property that has an in-law suite. It is attached to the subject. It can access ...
A: Jason, I love those assignments! First thing to consider of course is the subject's Highes & Best ...
|
| Incomplet home appraisal | 3/7/2008 |
Q: I am getting a home equity loan (my house is paid for) and I want the money to buy the house next ...
A: Again, it depends on the lender's guidelines. In most cases when a person applies for a loan for ...
|
| Incomplet home appraisal | 3/7/2008 |
Q: I am getting a home equity loan (my house is paid for) and I want the money to buy the house next ...
A: Good Morning Wanda, The first thing you should do is request a copy of the appraisal from the loan ...
|
| Refinance of mortage with lowered appraisal value | 2/28/2008 |
Q: Jim, I expect to refinance an existing interest-only loan in about 2 years for my home in ...
A: Of course for an exact answer, please refer to your loan documents. But to answer your question ...
|
| reassignment | 2/21/2008 |
Q: I completed an assignment for Mortgage company A. Mortgage company B faxed over a request to switch ...
A: Of course, please review USPAP in regards to readdressing or changing the client of an assignment. ...
|
| proposed construction/final inspection | 2/20/2008 |
Q: I am peforming a porposed construction on a single family property in VA. An addition is added to ...
A: If the original loan for the proposed construction was completed as an FHA mortgage, then yes an FHA ...
|
| Buying a home w/ finished basement (build without permit) | 2/16/2008 |
Q: This is a great service you are providing and much appreciated. We are looking to purchase a home ...
A: Good Morning Snow, Since laws do differ from one county/municipality to the other, the best source ...
|
| Appraiser Trainee | 2/14/2008 |
Q: As Far as logging Hours What are the steps to proving that you did the appraisal? I was told that I ...
A: You need to verify with your state's licensing board the procedures. Typically the governing ...
|
| Appraiser keeping house plans | 2/13/2008 |
Q: We had an appraisal completed for a new home construction loan through one lender, but decided to ...
A: There is a guideline set forth in the Uniform Standars of Professional Appraisal Practice (USPAP) ...
|
| Appraisals | 2/12/2008 |
Q: I had my home appraised March of 2005 in which it came in at $167,000 by a bank appraiser. This was ...
A: Jason, Although I am sympathetic to your situation, You have involved a legal aspect to the ...
|
| heloc appraisal | 2/11/2008 |
Q: My wife and I are planning on doing a heloc for home improvement(mostly minor)and consolidate ...
A: The appraiser can take into consideration the incomplete home improvements if the lender requests ...
|
| heloc appraisal | 2/9/2008 |
Q: My wife and I are planning on doing a heloc for home improvement(mostly minor)and consolidate ...
A: Copies of appraisals completed for private mortgage transactions are not provided to local property ...
|
| foreclosures effect on homes | 2/7/2008 |
Q: For southen ca. What effect will shortsales and foreclosures have the value of homes this year. I ...
A: Foreclosures have always affected local real estate markets in several different ways. As the ...
|
| Appraisal on Home Under Renovation | 1/22/2008 |
Q: 8 years ago, my husband (a professional carpenter) began a massive remodel of our 1200 sf 1950's ...
A: I thoroughly enjoy those types of assignments! They are very challenging for the appraiser to ...
|
| walk in closet | 1/21/2008 |
Q: In my master bedroom I currently have a regular sized closet. If I were to extend it to the size of ...
A: Each market area is different. The value placed on a feature like a walk in closet is the amount ...
|
| My grandmas Condo | 1/17/2008 |
Q: Im sorry to bug anyone, but until like 2 months ago I started to worry about the Laywer handling my ...
A: Unfortunately, your question is more legal in nature. I am not an attorney or licensed in your state ...
|
