If this guy switched to a tablet for inspections and a laser tape measure, it would make his job so much easier. (Been appraising since 2003) Probably save him an hour of work on each appraisal.
Hey Brian, I agree, but I tried switching to a tablet and struggled. I guess I'm old. LOL, I do use a laser measure, and it helps tremendously. Still need standard tape on some things, but I carry both with me. Thanks!
I think if you want to sell a house on market you the seller should have the appraisal done and inspection done prior. This way the offer is honest. If someone wants to pay high you know what the amount financing is up front. Then if you buy the home, the buyer pays the appraisal fee back to seller.
That sounds nice in theory but they dont do that bc the market comps can change everything depending on whats been sold most recently. It takes about 30-45 for standard loan to close on a house and within that time other houses have sold and the market value can shift. They dont do the appraisals until 10 days before closing. Happened with my buyers house, we went under contract for a price that was applicable at the time but another comp that was most like ours ending up selling in the middle of our contract and the appraiser based the majority of his appraisal on that one and my buyers ended up getting their house for $15,000 less than we were under contract for. Also inspections are technically optional which is why the buyer pays for it and is responsible for picking their inspector .
Your comment made my head hurt. Banks are the ones that request appraisals. Because banks are the ones letting you borrow hundreds of thousands of dollars. They don’t let “just anyone do it.” So the SELLER cannot do appraisals because they’re not letting someone borrow hundreds of thousands of dollars, right? Next point, any seller can list their house for sale at any price. Your “offers” will determine what people are willing to pay for your house right now. Should you accept or negotiate those offers depends on YOU the seller or you might say I don’t want to sell the house, after all. Or maybe you get lucky and people are fighting to buy your house. In that case, the buyer will have to pay extra down payment or get different types of loans to pay the difference. The difference being that bank lets buyer borrow $350 but your buyer is willing to pay you the seller $375 because other buyers are fighting for your house. Basically the 25k difference will be paid cash as down payment.
@@elhugeo what a dumb ass reply. You just explained how it works. We all know how it works you dumb shit. Hencey comment is different than how you and your fake money banks do it. I hate people like you. Ugh. You are lucky there are laws to Protect people like you.
Does lot/land size matter alot with appraising similar properties but one has 1 acre and the other 15 acres. How do you know how to adjust for that? Comp land in the area and adjust?
After I receive my Real Estate Appraiser License and I am ready to go to work where do I begin? Do I knock on insurance companies doors. Not l=knowing the next step, Thanks.
I'm not sure insurance companies are the way to go. Maybe ask loan originators and realtors how you can get started. Most appraisals are ordered through lenders. So being a part of a network of lenders will be helpful as well. Good luck!
That’s not how it works. You can’t just get an appraisal license. First step is getting your training license, you’ll need classes to get the training license. Then you need to find a certified real estate appraiser that will take you on as a trainee. (Tough to find one available to take you on because they are only allowed to have 1 trainee). Then you work for that appraiser for a minimum of 2 years / hour requirements for the state your in. Then after that, assuming you have done all your education requirements / college requirements as well, you then take an appraisal exam with the state your in. And if you pass the exam (which can be as tough as a law exam) you will be an actual appraiser. Doing all of this you will know exactly how to get work and from which lenders and amc’s to work with. Trust me when I say it’s difficult to get into this field!!
For anyone watching this video, the appraisal and inspector do two totally different jobs. I would not focus on the differences. I would focus on merely what the appraiser does it is an appraisal video.
I think it depends on the area. In this particular part of Birmingham, there is not much desirability in yellow and green bathrooms lol. But you're right. There are definitely parts of the country and parts of certain cities where a classic look is coming back.
REI LIVE: Yes, I am unfamiliar with the area, but have been disappointed when walking into a vintage or historic home ... only to be greeted by the ‘mandatory’ open floor plan and ‘updated’ kitchen, with granite countertops and dark wood cabinets. No thanks!
If this guy switched to a tablet for inspections and a laser tape measure, it would make his job so much easier. (Been appraising since 2003) Probably save him an hour of work on each appraisal.
Hey Brian, I agree, but I tried switching to a tablet and struggled. I guess I'm old. LOL, I do use a laser measure, and it helps tremendously. Still need standard tape on some things, but I carry both with me. Thanks!
Great video series!
🙏💜
Great info! 🤩
🙏💜
I think if you want to sell a house on market you the seller should have the appraisal done and inspection done prior. This way the offer is honest. If someone wants to pay high you know what the amount financing is up front. Then if you buy the home, the buyer pays the appraisal fee back to seller.
@Rag
I agree ☝️
Nope, that's not the way real estate transactions work. You don't just get to do whatever you want, lol
That sounds nice in theory but they dont do that bc the market comps can change everything depending on whats been sold most recently. It takes about 30-45 for standard loan to close on a house and within that time other houses have sold and the market value can shift. They dont do the appraisals until 10 days before closing. Happened with my buyers house, we went under contract for a price that was applicable at the time but another comp that was most like ours ending up selling in the middle of our contract and the appraiser based the majority of his appraisal on that one and my buyers ended up getting their house for $15,000 less than we were under contract for. Also inspections are technically optional which is why the buyer pays for it and is responsible for picking their inspector .
Your comment made my head hurt.
Banks are the ones that request appraisals. Because banks are the ones letting you borrow hundreds of thousands of dollars. They don’t let “just anyone do it.” So the SELLER cannot do appraisals because they’re not letting someone borrow hundreds of thousands of dollars, right? Next point, any seller can list their house for sale at any price. Your “offers” will determine what people are willing to pay for your house right now. Should you accept or negotiate those offers depends on YOU the seller or you might say I don’t want to sell the house, after all. Or maybe you get lucky and people are fighting to buy your house. In that case, the buyer will have to pay extra down payment or get different types of loans to pay the difference. The difference being that bank lets buyer borrow $350 but your buyer is willing to pay you the seller $375 because other buyers are fighting for your house. Basically the 25k difference will be paid cash as down payment.
@@elhugeo what a dumb ass reply. You just explained how it works. We all know how it works you dumb shit. Hencey comment is different than how you and your fake money banks do it. I hate people like you. Ugh. You are lucky there are laws to Protect people like you.
Does lot/land size matter alot with appraising similar properties but one has 1 acre and the other 15 acres. How do you know how to adjust for that? Comp land in the area and adjust?
Great question! Maybe we'll do another video with Bruce and ask him that!
After I receive my Real Estate Appraiser License and I am ready to go to work where do I begin? Do I knock on insurance companies doors. Not l=knowing the next step, Thanks.
I'm not sure insurance companies are the way to go. Maybe ask loan originators and realtors how you can get started. Most appraisals are ordered through lenders. So being a part of a network of lenders will be helpful as well. Good luck!
That’s not how it works. You can’t just get an appraisal license. First step is getting your training license, you’ll need classes to get the training license. Then you need to find a certified real estate appraiser that will take you on as a trainee. (Tough to find one available to take you on because they are only allowed to have 1 trainee). Then you work for that appraiser for a minimum of 2 years / hour requirements for the state your in. Then after that, assuming you have done all your education requirements / college requirements as well, you then take an appraisal exam with the state your in. And if you pass the exam (which can be as tough as a law exam) you will be an actual appraiser. Doing all of this you will know exactly how to get work and from which lenders and amc’s to work with. Trust me when I say it’s difficult to get into this field!!
@@jessicahaddock2663 I got a feeling it's like becoming a longshoreman or working for NYC MTA 😁. An appraisal cost $800-900 /these days!
For anyone watching this video, the appraisal and inspector do two totally different jobs. I would not focus on the differences. I would focus on merely what the appraiser does it is an appraisal video.
A good appraiser is open to all info
Helpful thank you!
🙏❤
Do appraisers have to keep up with market trends
Smart guy
What is the name of the song at the intro? It's dope...
lol I can't remember. I got it from the public domain music list haha
@@REILIVEvideos LOL
What is the average base salary for this career in this country? And what is the commission on appraisals?
With 3 years experience.
Is Bruce in Birmingham? Is so, how can I get in touch with him?
Yes
The line comes to measurements. I’m not an inspector or an appraiser
Pp90
Why the emphasis on updating? Classic, vintage styles and features are desirable, if the home has been well-maintained or renovated.
I think it depends on the area. In this particular part of Birmingham, there is not much desirability in yellow and green bathrooms lol. But you're right. There are definitely parts of the country and parts of certain cities where a classic look is coming back.
REI LIVE: Yes, I am unfamiliar with the area, but have been disappointed when walking into a vintage or historic home ... only to be greeted by the ‘mandatory’ open floor plan and ‘updated’ kitchen, with granite countertops and dark wood cabinets. No thanks!
not worth the 150 there asking. Homes in that area across going in the 80k area.
4 years later there double
@@DR-xt9ux yep!