Tag Archive for: appraisers

Appraised Value Often Not Market Value; Happy Thanksgiving!

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This is a reminder that appraised values often do not reflect market values. Appraisers are trained to make a concerted effort to correlate to contract price whenever there is a […]Read More

Interacting With Appraisers; Appraisal Comp Criteria

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As a lender, we are never allowed to directly communicate with appraisers before an appraisal is done. Real estate agents can, however, communicate with appraisers and many do with great […]Read More

Calling Listing Agents & Touting Appraisers, Pre-Underwrites & Speed

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Many of the Realtors we work with have us call listing agents every time they make an offer, and for good reason – b/c it works. When we call listing […]Read More

Homes In Poor Condition Revisited – Reports & Visible Repair Needs

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We currently have an escrow that is stalled b/c the property has significant condition issues that we were not aware of until the appraiser inspected the property. There is conspicuous […]Read More

Delay The Appraisal Inspection If Pendings Closing Soon

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Appraisers cannot correlate to any comparable sales that close after the appraisal date (the date of inspection). In “hot markets” this is a very important consideration b/c the necessary comps […]Read More

“Site Condos” For Multiple Units When Lot Splits Are Not Allowed

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We are seeing “Site Condos” more often than ever lately. This is b/c many cities, like Berkeley, will not allow small lots to be split into multiple parcels, but they […]Read More

No Value to Un-Permitted Space Unless Comps Have Similar Space

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We were asked about an Oakland property today with three bedrooms and one bath upstairs (permitted), and three bedrooms and one bath downstairs (un-permitted). The issue is this: The Oakland […]Read More

Cannot Give Value to Un-Permitted Space, In Most Cases

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Most lenders allow space built without permits, as long as it was constructed properly and there are no health or safety issues, such as the presence of a stove. Appraisers […]Read More

Unpermitted Kitchens Need to Become Wet Bars (Yank Out Stove)

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We have a purchase involving a full un-permitted kitchen in a basement area. We instructed the Realtor to simply remove the stove before the appraiser arrives and call the area […]Read More