Big Changes to Appraisals: What Agents Need to Know Now

Description

Appraisal reporting for residential properties has changed, and the new requirements apply to most mortgage transactions. Agents are already noticing longer appointments, reports that look different, and questions appraisers did not used to ask. In this session, you will learn what changed and why, how to read the new report, how condition, quality and updates are now described, and what you can do on your own listings to keep transactions on track.

 What you will learn:

 •What changed in residential appraisal reporting and why
 •Which transactions the new requirements apply to
 •How condition, quality and updates are now reported, room by room
 •Why each structure on the property is now described separately
 •What listing details appraisers need and how they affect the report
 •What to do before the appointment to keep your transaction on schedule 

Speaker-- Michelle Czekalski Bradley, Chief Appraiser at Czekalski Real Estate and Vice Chair of the NAR Real Property Valuation Forum