Personal Injury attorney in Des Moines Again, we understand your timeline and the specific situation of an REO house, as well as the special data you’ll need – competing listings, market trends, and the like. You can rely on Widener Appraisal Inc. to take on the appraisal of your REO professionally and efficiently. Contact us today.
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Don’t try to low-ball an appraisal if you are filing for bankruptcy. An appraisal that is not professional, or appears to be slanted in favor of the debtor, is unlikely to find favor with the court. It’s illegal to file a dishonest appraisal with the court, and some debtors have been prosecuted for doing so. That’s another reason to have an appraisal done by a reputable company. The Read & Kelley appraisal firm in Florida advises a debtor to obtain an appraisal report that is printed and signed, with a complete description of the appraised property, and a description of the methodology used to determine the valuations.
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When a case is filed, a debtor must list all of the property they claim is exempt. The trustee then has thirty days to object to the debtor’s claim of exemptions, otherwise the trustee’s right is waived and the exemptions stand. If the trustee files the objection to the claim of exemptions, the objection must be justified by some kind of measurable facts. Typically, the trustee states that they disagree with the value assigned to the debtor’s property. For instance, if the debtor lists his car’s value at $1,000, which he’s allowed to keep but the trustee feels it’s worth an amount closer to $2,000. This would be a valid ground for the trustee’s objection. The debtor would then have to either amend their list of exempt property or attend a hearing in front of the judge and argue the evidence with the trustee.
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The various U.S. appraisal groups and international professional appraisal organizations have started collaborating in recent years towards the development of International Valuation Standards. This will facilitate global real estate appraisal standards, a much-needed adjunct to real estate investment portfolios which cross national boundaries. Some appraisal groups are already international organizations and thus, to some extent, already incorporate some level of global standards.
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Learn how to get started with or without money, If your workfile comes under examination, every “i” must be dotted and “t” crossed to avoid trouble. This course will give you t…
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Pre-Listing 2019 Kia Sportage Google Marketing Strategy: Sometimes a property does not generate interest as a short sale, but that does not mean it is not worth the listing price or more. Short sales tend to have a stigma among buyers, so they often need to be priced more aggressively to generate interest. Moreover, it is very common to see short sales generate very little interest at a certain price, but the same property will sell quickly as an REO at that same price. The listing agent and/or home owner need to understand the market in order to set the right price for the property, whether a short sale, REO or traditional sale.
15-year fixed rates DIY The amount of people working as a real estate appraiser has declined significantly. For example, 78,500 real estate appraisers were working in the U.S. in 2015, but this is down 20 percent from 2007. A big part of this change can be attributed to an aging population of appraisers. In fact, 62 percent of all appraisers are 51 or older while only 13 percent are 35 or younger. That may mean that there will soon be a need for more qualified appraisers.
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When you’re ready for a professional home-value assessment, a Redfin real estate agent can evaluate your home in person and give you pricing recommendations based on its unique characteristics. Talk to a Redfin Agent who specializes in your area for a free consultation.
Home Equity Loan vs. Cash-Out Refinance How AFSCME sabotaged the Illinois economy The income approach is an approach through which an appraiser derives a value estimate for income-producing property by converting anticipated benefits – for example, cash flows and reversions – into current property value. This conversion can be accomplished in two ways: 1) one year’s income expectancy or an annual average of several years’ income expectancies may be capitalized at a market derived capitalization rate, or at an overall rate that reflects a specified income pattern, return on investment, and change in the value of the investment; or 2) the annual cash flows may be discounted for the holding period and the reversion of the sale price, several years later, at a specified yield rate.
Explore over 20,000 real estate-related companies Thinkstock An evaluation of the overall real estate market in the area. Putnam County Gain a greater understanding of the lending and foreclosure processes leading to properties becoming real estate owned (REO), and the ro…
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What is my home worth? –2015 Mortgage Insurance Update– Appraisers may have strong feelings about Appraisal Management Companies, but with about 80% of the mortgage appraisal volume engaged through AMCs, working with an AMC is almost a necessity as an appraiser today. Join appraisal instructor Tony Pistilli as he explores the best practices for working with AMCs and growing your business. Learn techniques to help you maximize the benefits of your AMC partnerships, including the best questions to ask when interviewing potential AMC clients and how to improve your appraiser score with AMCs.
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