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What hurts a home appraisal, who pays for home appraisal and does it matter if house is messy. - YouTube
Channel: Red Boots Ventures Corp.
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we're going to go ahead and answer about
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19 questions that have been provided
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concerning real estate appraisals so the
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first question is who orders appraisals
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in real estate transactions this will
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typically be
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lenders because when you go to borrow
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money they're going to control where the
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appraisal goes to an appraisal
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management company
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who gets the appraisal report
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typically that's going to be the lender
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basically
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if you don't use a lender and you order
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an appraisal you can
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you can get it
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all right how much does a house
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appraisal cost in florida well that
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varies significantly it can range
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anywhere from 500 to 1200
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it depends on the difficulty of the
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appraisal currently va appraisals i
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believe were right at 6 50.
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what hurts a home appraisal
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well there are many things but of course
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the condition of the property hurts it
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the surrounding neighborhood can hurt it
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and
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we got to blurp in there we'll beat that
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out so we'll just go with those two
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[Laughter]
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what should you not say to an appraiser
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i would not talk the property down or
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talk about any significant items
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structurally
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that need to be done to the property
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also don't tell him he's running way
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behind
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[Music]
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why are appraisals taking so long in
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2022
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it's because there are limited amount of
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appraisers and an enormous amount of
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purchasing
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and borrowing going on so there's a lot
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of business and few appraisers
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does an appraiser care if your house is
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messy
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depends on how messy it is typically no
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we can overlook most uh most things in a
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home
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but you don't want to cover things up
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that we need to see
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how long does it take to get the results
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of an appraisal after the property is
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inspected typically you can get
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appraisal results back in one to two
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weeks
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does the appraiser know the contract
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price yes
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because the contract is supplied to the
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appraiser this is considered
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market information and so the appraiser
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needs that market data now that does not
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mean he necessarily
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relies on it
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but it gives them another piece of
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information
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what happens if the appraisal is late
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the only instance i could think where
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that would make a difference is if your
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lock-in is going to expire on a loan
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otherwise what is late
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can an appraiser use pending sales yes
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an appraiser can use pending sales as
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additional supporting data it cannot be
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primary data we need closed transactions
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does an appraiser go inside the house
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yes typically they go in there are some
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appraisals called drive-bys where the
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appraiser does not go in the house
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how long
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does a proper property appraise how long
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is a property appraisal good for
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typically a an appraisal is good to the
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market conditions change which nowadays
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is
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relatively short because market
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conditions are changing quickly but
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generally a lender would honor an
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appraisal maybe for three to six months
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are real estate appraisals accurate they
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are accurate if the appraiser is a good
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appraiser
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i don't know what else to tell you if he
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does his job properly then they are
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accurate
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should a homeowner attend an appraisal
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yes a homeowner can attend but i would
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not follow the appraiser around and
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engage him in a lot of conversation
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because doing this distracts him and he
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might overlook something that needs to
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be an appraisal maybe just highlight a
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few things that you've improved
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who pays for a real estate appraiser
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typically that is paid by
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the person who uses it so if you go in
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to borrow the money from a bank you're
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going to pay for the appraisal but the
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bank's going to own the appraisal
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can you challenge a real estate
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appraisal yes you can challenge it but
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when you do you need to have data
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that is supported by the market that has
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been verified and it's not just your
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opinion
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can a real estate agent do an appraisal
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they do appraisals but they're called
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cmas or comparative market analysis they
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cannot do appraisals or federally funded
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transactions
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can an appraisal be transferred to
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another lender
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as a standalone item it cannot be
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transferred but the whole lending
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package can be transferred to another
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lender
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my name is gary whitham i've done
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appraisals in bay county for 37 years
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and i hope this information has been
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helpful
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thank you
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you
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