How Appraisers Make Money

You might have heard of appraisers in real estate transactions but what do they do? In this video, I will breakdown the relationship between the appraiser, the bank, and real estate. Also why YOU should care how they make money in real estate.
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[@Smoothy104]

They are contracted by the bank via bidding process. They are paid by the bank on behalf of the borrower once the appraisal is complete. Values cannot be influenced by the bank as there are laws that protect against this (USPAP & FIRREA). Higher values that may be inflated would mean the bank is lending on overstated LTV's and not going to be in business long.

[@ParkAvenue_Vlog]

They are not always there on behalf of the bank. I’ve had appraisals done on properties with no mortgage..

[@abc-pn2eb]

This didn’t even answer how they get paid. By getting hired by the bank?

[@bignastytiger4174]

Yes. The bank can pay the appraiser, unless the appraiser is hired directly by a private entity.

[@rplshgl1]

excellent explanation. Does bank pays salary or its commission job?

[@everythinggoes850]

One time fee

[@hewyp06]

This video should actually be taken down.. He made MANY false and misleading statements about Appraisers.

[@claudiaswanes729]

Doesn’t answer the question how much income money they yearly have

[@brandon7233]

It’s not that confusing, third party consultant, paid a fee, to give an opinion of value. Not just any opinion. That opinion has to be backed up by someone who has passed the national exam, could you pass it?

[@John_Patton]

So wrong about so many things in this video.

[@jamesrigdon3384]

None of this video with regard to appraisers making money is remotely accurate.