As busy real estate appraiser, both your time and your professional reputation are extremely valuable. One thing you can do to help save time and preserve your standing as an ethical and reliable property appraiser is to put a little extra time and effort toward avoiding appraisal errors and violations. While most common appraisal errors are minor and won’t result in disciplinary action, even small mistakes take time to correct and therefore slow down your process.
Browse the following resources designed to help you avoid common appraisal errors and violations.
1. How to avoid mistakes in appraisal reports
Here’s a compilation of the most common errors and deficiencies found in appraisal reports by reviewers, regulators, and appraisal boards:
2. How to avoid minor appraisal violations
In this article, Dan Bradley outlines several examples of less serious development and reporting violations:
3. How to handle feedback from reviewers
Here, a review appraiser gives advice on how to make reviews as painless as possible if you’re the one being reviewed:
4. How to avoid disciplinary action
In this article, Dan Bradley outlines several do’s and don’ts to help you steer clear of appraisal complaints that may result in disciplinary action:
5. What happens when a complaint is filed
This article gives the 30,000-foot view of how disciplinary complaints are handled, including a flowchart showing how appraisal complaints are enforced in one state:
Upcoming webinar: Best practices to avoid appraisal errors
Join us on Wednesday, November 18, 2020 from 11:00am–12:00pm EST for a one-hour, non-credit Pro-Series webinar: Why Lenders Review and Common Errors in Residential Appraisal. In this training session with presenter Alex Gilbert, you’ll learn the appraisal requirements that lenders must follow, the lender’s appraiser monitoring and quality control processes, the reasons for appraisal review, and the best practices to follow in completing mortgage lending appraisals.