Loans By Kathy

Cobb Association of Realtor Meeting - Appraiser Panel

The Cobb Association of Realtor monthly meeting was yesterday.  The program consisted of three area appraisers ready to answer the 

Cobb Association of Realtor Meeting

Realtor's questions about the appraisal process.  The panel consisted of Scott Murphy of DS Murphy Appraisers, Peter Bray of REV Appraisal Services and Alan Parks of Northside AIG.  

There was a great deal of information shared by the appraisers regarding how adjustments are made for the current sales trends versus historical sales.  The Market Condition Addendum that is now part of the Fannie Mae 1004 Appraisal Form.  The selection process for comparable sales.

The appraisers were asked what the Realtor could do to assist them in the process.  There is a gasp from the group when it was the appraiser's recommendation that the appraisal contingency on the contracts be written for at least 25 days and the reason for it.  The Realtors were also asked to provide the appraiser with information they may have about the subject property or the other properties currently on the market and recent sales.

The exchange of information between the parties involved in the process is a great way to expand the understanding and will allow for everyone to provide better customer service.

 

 

 

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Kathy Sheehan Senior Loan Officer

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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

Comment balloon 3 commentsKathy Sheehan • July 11 2013 09:14AM
Cobb Association of Realtor Meeting - Appraiser Panel
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