Springfield, MO July 14-15, 2025

This course provides a greater understanding of the lending and foreclosure processes leading to properties becoming real estate owned (REO), and the roles and responsibilities of valuation professionals in this process.
We will examine the differences between traditional mortgage appraisal assignments and foreclosure assignments. Special attention is paid to clearly identifying the definition of value as well as assignment conditions and requirements from clients and intended users such as Fannie Mae and HUD/FHA.
We will cover the concepts of cost to repair and cost to cure, along with data sources to support cost estimates, as well as investor incentive (risk demand) estimates extracted from the market. Finally, we will address reporting issues, including the appropriate use of disclosures and disclaimers in REO appraisal reports.

COURSE HIGHLIGHTS: 

• Explore the appraiser’s role in loan workout solutions and opportunities for additional appraisal business 
• Address the importance of repair costs and entrepreneurial incentive in REO appraisals
• Identify solutions to reporting problems, including the use of disclosures and disclaimers

This course was created to assist appraisers in understanding the necessary requirements and processes when developing appraisals for clients who need to have real property valuations for estate planning and settlement purposes. The course material covers the basic legal terminology, USPAP obligations, forms and format options and other information that an appraiser will need to know when they decide to diversify their practice or to fine tune the estate appraisal assignments they might already be performing. Three common types of appraisals and their specific requirements are described in the material along with a class discussion topic, and some bonus material describing real life cases will be offered by the end of the course.

Upon completion of this course, participants will be able to:

• State and define the basic and the most common legal terms associated with estates and estate appraisals. 
• Identify the necessary USPAP requirements, elements and assignment conditions when completing estate appraisals.
• Determine the appropriate forms and formats necessary to produce a credible report.
• Discover alternative ways to market estate appraisal services to distinct clients.
• Gain clarity and the necessary knowledge to seek out and perform estate appraisals.