As a Realtor, I have now seen a few educational videos on the ALL MIGHTY APPRAISAL, and honestly, this is one of the best not to say the best so far. Thank you
That was a great explanation. When we bought our land the sales price was 88k. The appraisal came in at 88k. We thought that was funny but looks like the appraiser was a good one.
So far i have watched 3 or 4 of your videos. I am in NH and getting ready to take my Pre-License class. I'm also trying tosell one of my houses in Ky and my gosh my eyes are opened to the level of expertise that is out there relative to Real Estate Agents. Thank you Very much for your info and your expertise. Mike
Even though this is now 6 years old, its still good. Unfortunately the curse of Barney Frank is still with us. Having a deal collapse because of some guy not involved with the transaction is crazy. The issues of comparable homes contrasting values does nothing but complicate the process when the appraiser doesn't know the area that very well.
"Appraisers do not do anything different than Listing Agents" this is news to me. Listing agents pull sales for a price that they could achieve while appraisers pull sales for a value the client will achieve, big difference between the two.
So what do you do if the appraiser say that it is too complicated and they can't appraise the home what happens then because we have this situation right now going on trying to sell a home for 214 the ladies putting 95 grand down it is 6 bedrooms 4 bath it is a double wide that has an add on, acre and a 1/2 of land 3 outbuildings car awning RV awning !!!????
O i see they look at previous homes that are similarly sold to bases some of there pricing on the next similar home not taking into consideration the time or decade
Help!! Appraiser is asking home needs repairs where outside stucco is cracking and falling of mostly all around the house. Realtor is asking us to make repairs because seller is helping with $6,800 closing costs. Home is $290,000 and our down is $10,200. We are in a tight spot, we don't want to lose sellers closing cost help if we say no.
This is where it comes in handy to know how to do this kind of work or know someone who does. It is typical for stucco to fail where water is prevalent. Flower beds that are up against the stucco, down low where water run off is common. Although it may be a number of causes as to how and why the stucco is failing determining them and then removing any loose stucco and having it inspected prior to performing repairs then once determined how to proceed hopefully it will only be a matter of some loose stucco and not issues with the lathe or foundation. There is also the possibility that these "pre existing issues" should be disclosures and then why is it not the seller who should make the repairs? This is in no way advice just some thoughts that come to mind.
Say if there is a home’s price is $200k and I have an Appraisal guarantee of $1k, then the lender ( Bank ) comes to look into it to verify the price of it and the price comes to $199k. In this case do I pay $2001k including the Appraisal guarantee to buy the home or I only have to pay $200 included the Appraisal guarantee?
As a Realtor, I have now seen a few educational videos on the ALL MIGHTY APPRAISAL, and honestly, this is one of the best not to say the best so far. Thank you
wow this one of the most clear videos regarding this topic. and its 9 years old.
As an appraiser, thank you. It was a great explanation!
Wow- you truly have a gift in explaining things!!
Still a great video in 2020, Thank you!
A true "honest John". Thx so much!!!
This is a great video...still relevant to this day.
Fantastic, thanks so much for the lesson.
That was a great explanation. When we bought our land the sales price was 88k. The appraisal came in at 88k. We thought that was funny but looks like the appraiser was a good one.
I know it's an older video, but this was very informative!
So far i have watched 3 or 4 of your videos. I am in NH and getting ready to take my Pre-License class. I'm also trying tosell one of my houses in Ky and my gosh my eyes are opened to the level of expertise that is out there relative to Real Estate Agents. Thank you Very much for your info and your expertise. Mike
Even though this is now 6 years old, its still good. Unfortunately the curse of Barney Frank is still with us. Having a deal collapse because of some guy not involved with the transaction is crazy. The issues of comparable homes contrasting values does nothing but complicate the process when the appraiser doesn't know the area that very well.
Rick
Vid from 2012.
2021 today.
You did a great job.
What's that 275k house worth today.?
Very well said. You have a knack for explaining the process. Nice Job!
Man if this wasn't well said & explained then I don't know what would be a better way to tell it.
"Appraisers do not do anything different than Listing Agents" this is news to me. Listing agents pull sales for a price that they could achieve while appraisers pull sales for a value the client will achieve, big difference between the two.
God bless this man!!!
I can tell that this is going to be great! Clear explanation.
Well Done. Excellent Video. Thank you.
Wow good description of the process.
Very detailed explanation, Great video!
i truly appreciate your videos.
Very informative, well done
8 years later and the Appraisers are still very conservative.
Great video! Very informative 👍!
Excellent explanation, thanks~~ appreciated.
Thanks a lot 👍👍
So what do you do if the appraiser say that it is too complicated and they can't appraise the home what happens then because we have this situation right now going on trying to sell a home for 214 the ladies putting 95 grand down it is 6 bedrooms 4 bath it is a double wide that has an add on, acre and a 1/2 of land 3 outbuildings car awning RV awning !!!????
My lender waived the appraisal of my home purchase. I guess things have changed since 2012.
nice video
Hi we selle our house my real tour wants my own appreser should i gave to my real tour or should i show to the buyer ? thanks
Wow!! You nailed it!! I loved it!! Hope you were doing business here in Florida with us Realtor!! Do you want to open an office here? 😄
Very good vid
O i see they look at previous homes that are similarly sold to bases some of there pricing on the next similar home not taking into consideration the time or decade
Hi Rich, love it, short to the point. Thk u so much. Which to join u here in SFV, too bad ur so far.
What about if your paying cash who will appraise the house
All cash? No bank needed to lend money? Then no appraisal is needed unless the buyer wants to hire and pay for an appraisal.
If the house you are looking to buy does not appraise and you do not have the cash to pay the rest do you loose your 2k deposit?
Help!! Appraiser is asking home needs repairs where outside stucco is cracking and falling of mostly all around the house. Realtor is asking us to make repairs because seller is helping with $6,800 closing costs. Home is $290,000 and our down is $10,200. We are in a tight spot, we don't want to lose sellers closing cost help if we say no.
This is where it comes in handy to know how to do this kind of work or know someone who does. It is typical for stucco to fail where water is prevalent. Flower beds that are up against the stucco, down low where water run off is common. Although it may be a number of causes as to how and why the stucco is failing determining them and then removing any loose stucco and having it inspected prior to performing repairs then once determined how to proceed hopefully it will only be a matter of some loose stucco and not issues with the lathe or foundation. There is also the possibility that these "pre existing issues" should be disclosures and then why is it not the seller who should make the repairs? This is in no way advice just some thoughts that come to mind.
Say if there is a home’s price is $200k and I have an Appraisal guarantee of $1k, then the lender ( Bank ) comes to look into it to verify the price of it and the price comes to $199k. In this case do I pay $2001k including the Appraisal guarantee to buy the home or I only have to pay $200 included the Appraisal guarantee?
Great content..no BS!! Just subbd thanks😎
Very informative, but speaking too fast.
I like the pace at which he speaks. More direct and to the point. It's easier to stay engaged, mentally.
🌈😃🤙