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How Long Does It Take To Get An Appraisal Scheduled? Once your mortgage lender orders the appraisal from a third-party professional, it should take up to 48 hours for the appraiser to schedule the home appraisal visit.
Which statement is TRUE regarding exposure time? It is always assumed to precede the effective date of the appraisal. What is the primary purpose of an appraiser making an inspection of the subject property? When appraising a property with proposed improvements, what type of value opinion is permitted by USPAP?
These appraisals frequently get prepared as part of an estate valuation, since property in an estate gets valued as of the date that the estate owner died. Most appraisers can produce a backdated appraisal for this or other reasons. You just have to ask them to do it.
By far the most common and usual objective of real estate appraisal is to estimate market value. The type of value to be estimated in any appraisal dictates the data to be gathered and used in the appraisal, as well as the analytical valuation techniques to be employed.
The effective date is the redline the appraiser used to research and analyze the market activity. In theory, the appraiser sits in judgment on the effective date. They either go back in time, go forward in time, or sit tight in the present.
Contact the real estate appraiser you select. You will to need to make an appointment to have the retrospective appraisal done. Inform the appraiser that this is retrospective and ask if he is familiar with this type of valuation. Give the reason for the appraisal so the appraiser covers all required locations.
Recall that reasonable exposure time is the amount of time for which the property is expected to be on the market before selling for its market value. If the goal is to sell for more or less than market value, then the exposure time will be more or less than reasonable exposure time.
Contact the real estate appraiser you select. You will to need to make an appointment to have the retrospective appraisal done. Inform the appraiser that this is retrospective and ask if he is familiar with this type of valuation. Give the reason for the appraisal so the appraiser covers all required locations.
Exposure Time is an expression of the length of time properties were listed for sale prior to the consummation of a sale, which occurred in the past. Marketing Time is an estimate of what is likely to occur in the future.
An analysis and opinion of Exposure Time is required for appraisals where the definition of value is tied to a reasonable or stipulated exposure time. A discussion of Exposure Time allows the intended user(s) to put the appraiser's value opinion into context.