We are having trouble locating comparable sales for comparison to our subject properties. Do you have any resources you could suggest?
With the new $400,000 threshold increase for 1-4 family evaluations, we have decided to pursue writing them internally to remain competitive in our market. Can we do evaluations on proposed dwellings for our builder clients?
My examiner has told me to stop writing real estate evaluations because I was making adjustments to the sales used but I’m not an appraiser. Do you have any solutions for me to use so I can continue writing the reports?
How important is a reconciliation of the approach(es) that was (were) used?
I’ve been told that the $500,000 threshold could include residential properties, but I thought this threshold was for commercial property only. Is this correct and will you include any examples of how this would exist?
We do validations at our bank but have been told that we should not change the value when doing a validation. Will you be discussing how to validate prior appraisal or evaluations?
Is the Notice of Right to Receive Appraisal Copies required on 2nd liens?
A customer desires to purchase improved real estate. The acquisition price represents 91.7% of the purchase price and 78.2% of the "as is" appraised
value. The borrower will pay for renovations out of pocket. Adding the cost of the renovations to the acquisition price would reduce the LTC ratio to
82.2%. Is it permissible to add the cost of renovations to the acquisition price to arrive at the cost of the property?
We have a commercial appraisal on a property for one borrower. The borrower could not reach an agreement with the seller so the deal fell through. We have another customer interested in the property. Can we use the original appraisal for the new customer's request?
Do we need to send an Appraisal Notice on a new request if we are using an existing appraisal we already have for a separate loan?