Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” That’s the real reason why—because USPAP says…
This year we’ve seen intense homebuyer competition nationwide, with a record-breaking number of homes selling above asking price in March 2021. As a real estate appraiser, you’ve likely encountered assignments in which the purchase price is not supported by the available comps. So, what…
As an experienced appraiser, you’ve likely encountered pressure to hit the purchase price or develop your appraisal based on a predetermined value. This, of course, is unethical. So what do you do when you’re asked to hit a certain value? Or when the purchase…
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