Appraisals/ How Values Are Determined

Wednesday, September 6th

10:00AM - 2:00 PM

Appraisals are one of the single most important items related to the financing of 1 to 4 family homes for the average person. Too often borrowers rely on “appraised values” from sources that are inaccurate. Many times the estimate of value is highly inaccurate.

These inaccurate values cause a lot of confusion and pain for many borrowers and by extension confusion and pain to the real estate agent.

Even though sites like Zillow have millions of home values in their database they are not as accurate and up to date as they need to be. In addition, many highly qualified real estate agents falsely believe that their own comps should be used. They make a good case but this course will teach them WHY lenders use independent appraisers to come up with a “best effort” opinion of value.

Many of the questions that will be addressed in this class are:

What is an appraisal? Why is an appraisal required? Who performs the appraisal? Who picks the appraiser? How can you prepare your home for appraisal? Does the appraiser perform a home inspection? And the #1 question…… What factors affect the appraised value?

Naturally, there are MANY more questions and items to cover in this class… And they will be addressed in an easy to understand, highly interactive class setting.