November 13th, 2018

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What are some of the best ways you can educate your borrowers on appraisals? Luckily, two appraisal experts had a chance to sit down and share their knowledge with us. Some of their tips include:

  • Setting realistic expectations up-front

  • Present solid comps if you’re going to appeal the value

  • Have the homeowners be present during the appraiser’s visit

  • Explain to them that “what the appraiser is trying to do is identify in their process is the most that the buyer is willing to pay for the property and [find the axis where that meets] the least amount the seller is willing to take.”

To see more tips on how to set correct expectations for borrowers, you can read the article from Housing Wire here.