More Questions Involving the Appraisal Process
This webinar covers answers questions that occur during the ordering of the appraisals. Questions answered in this section:
- Fannie Mae & Freddie Mac say one thing and USPAP indicates another.
- When providing appraisals for lending purposes, that are likely to involve these entities, which requirements am I supposed to follow?
- Can I use Fannie Mae’s form for private or legal appraisals?
- Is it OK for me to use Fannie Mae’s form for a private appraisal concerning a divorce?
- I have checked the box on the form regarding highest and best use, why are lenders and AMCs asking for comments regarding this box or my H&B analysis?
- I was told that for a VA loan the appraisal must indicate that the subject property has 30 years of remaining life, is that true?
- Can the appraiser skip viewing the exterior of the comparables and use MLS photos instead?
- Due to a blocked driveway I can’t inspect the exterior of the comparables, can I use the county assessor’s photos instead?
- Do I really have to determine the adjustments in every appraisal?
- I was told that Fannie Mae &/or Freddie Mac will not accept single line adjustments that are greater than 15% or total adjustments greater than 20%, is that true?
- Are the terms “Pride of ownership,” “Poor neighborhood,” “Crime-ridden area,” “Desirable neighborhood,” or other similar terms acceptable for use in an appraisal?
- What is a concession?
Duration: 1 hour 45 minutes
Price: One week access to the course for $15.00
At this time, there is no Continuing Education (CE) credit for online classes.