appraisal reports

3 Alternatives to On-Site Inspections for Appraisal Reports

Published by Fair Trade Outsourcing on May 8, 2020

The process of writing up an appraisal report typically involves exterior and interior inspections, which allow the appraiser to determine the characteristics of the subject property. Usually, the appraiser visits the subject property as well as comparable properties with similar characteristics.

However, this practice of doing on-site inspections and comparable research isn’t restricted to the appraiser. The USPAP guidelines provide some allowance for a real estate appraisal assistant to perform non-significant work or even a third-party inspector to provide significant assistance to the appraiser.

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3 Alternatives to On-Site Inspections for Appraisal Reports

3 Alternatives to On-Site Inspections for Appraisal Reports

The process of writing up an appraisal report typically involves exterior and interior inspections, which allow the appraiser to determine the characteristics of the subject property. Usually, the appraiser visits the subject property as well as comparable properties with similar characteristics.

However, this practice of doing on-site inspections and comparable research isn’t restricted to the appraiser. The USPAP guidelines provide some allowance for a real estate appraisal assistant to perform non-significant work or even a third-party inspector to provide significant assistance to the appraiser.

By Fair Trade Outsourcing, ago
overcoming challenges of customer support for mortgage lenders

Why Hire Appraisal Report Writers Now Rather Than Later

According to a couple of appraisers we talked to recently, the increase in requests for appraisals seems to stem from several things: the two Federal rate cuts in March and the updated rules for documenting properties. Let’s see how these developments can affect your appraisal report writing and why outsourcing the research and report writing process helps you complete property evaluation assignments faster.

By Fair Trade Outsourcing, ago
The Types and Uses of Appraisal Reports

What are the Two Types of Appraisal Report?

There are two types of appraisal reports addressed by USPAP as of 2014, namely Appraisal Report and Restricted Appraisal Report. These are the only reports endorsed to meet USPAP’s minimum requirements and reporting standards.

In other words, each written report of real estate appraisal must be prepared and submitted as one of these two types of reports. While both reports are completed appraisals with certified values, they vary particularly on the content and level of reporting detail, as they are dependent on the intended use and the intended user.

By Merryl Dusaran, ago
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