Appraisal Standards Board issues new Q&As for January 2018

The Appraisal Standards Board has issued three new USPAP Q&A for January 2018. Looking at these questions in the context of recent new articles about 'drive-by appraisals' it is clear that the Board is addressing questions on this subject. Question…

Video - Appraisal Home Inspection

How does an appraiser reach an “opinion of market value?”

An opinion of market value is an estimate of how much a property is worth in any given market. An opinion of value is reached by using one of three standard approaches: The Cost Approach estimates what it would cost to replace or reproduce…

What can I expect during the appraisal process?

Before the Inspection No need to clean. The appraiser looks at the structure, not the mess. You can choose to be there, or not. Just make sure you leave things unlocked. Leave it open. All rooms must be accessible to the appraiser. …