appraiser values

Who Can Complain About Appraisals

  Time to get on my soapbox and complain about a complaint filed against me (not a charge, but merely a complaint). I did an appraisal of a multi-family property near my office. The property owner/borrower called me to complain about the appraisal since it came in far less than she thought it should (not […]

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Can the Same Form Have More Than One Property on it?

Lots of folks have asked me, “Dustin, can I appraise two different properties on the same appraisal report at the same time?”.  Now understand I am not a USPAP instructor, I am an appraiser, so I’m going to answer this question as best I can. The question before us is legitimate, and one which I

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Should Adjustments Actually Be Done?

How much credit should we give ourselves when it comes to making adjustments? Making adjustments is controversial. USPAP says nothing about adjustments – it does not require us to make them. They are a GSE construct. So, should we real estate appraisers stop making adjustments? Clients pay us for opinions of value, so our adjustments

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COD At The Door?

In the past, it was common for appraisers to collect their fees directly from the borrower at the time of the property visit (i.e., at the door).  I would take credit cards, checks, or cash while at the door. Many years ago, this was common. Now, however, that rarely happens and we usually have to

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ARE YOU PREPARED FOR THE INEVITABLE (Part III of a Three-Part Series)?

(Disclaimer:  I am not an attorney, CFP®, or CPA®, physician, etc., thus do not offer legal, financial, accounting, or medical advice.  You should not interpret anything in this blog to be legal, financial, medical, or tax/accounting advice since there is no such advice here.  If you want or need such advice, please contact the proper

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Reconciliation

How do you reconcile between the value indications of the three approaches, or even between the range of value indication in even one approach? How you answer this is important since SR1-6 calls for us to answer both of these questions as part of our reconciliation.   USPAP has no specific requirements telling us how

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How To Charge Cancellation Fees

You’ve been driving for more than an hour and a half to your appraisal appointment. So, you decide to call the client and let them know you’re almost there – only for you to get told, ‘We cancelled, didn’t the bank tell you?’ For those involved in real estate appraisal, this is an all too

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Location, Location, Location

It’s one of the oldest sayings in the industry and you’ve all heard it a million times before. “What are the three biggest rules of real estate? Location, location, location.” The thing you have to realize, however, is that it’s not just a tired old axiom! There’s also a valuable truth in there, which is

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How to Bid an Appraisal Job

I was talking with one of my All Star Team members on the phone, when the subject of bidding for appraisal jobs came up. This person was struggling to reach a balance between going in too high or too low. They wanted to know if I had a system in place for working out how

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