How to Appraise a House Part 3 - with Bruce Glenn

[@Omnipresence2.0]

1:16 this is so wise! I love this Bruce!

[@bruce.lee.]

Thank you guys so much!! I’m very interested in this career and your videos helped a lot!!

[@REILIVEvideos]

Awesome! Good to know. Thanks for watching!

[@johngallagher72]

Same ...it was interesting to see the actual day to day duties.👍

[@rcwessel]

An appraisal is supposed to be an unbiased opinion of value based on factual Information. If you really want an appraiser's unbiased opinion of value then don't give the appraiser a copy of the contract. You can still let the appraiser know if there are any unusual conditions such as a seller credit or repairs to be completed. Once the appraiser knows the sale price they will invariably aim for the sale price. No appraiser wants to do a reconsideration of value because the value comes in $1,000, $5,000 - pick a number - below the sale price. I always ask the agent if they have any sales they would like me to consider, otherwise, I will go with whatever I decide is best.

[@briantrek]

simple , the appraiser should not know the contract price unless there are concessions or conditions in contract that affect price ..like having a solution manual to a math text book ...Human nature is such that ur trying to figure how to reach that price/solution... that can lead to rubber stamping or inflated prices

[@REILIVEvideos]

I agree they shouldn't know. I have a problem with that too. But apparently it's just the way it is.

[@MackinzieGage]

Thanks buddy, hope things are well. I need to start filming!!!

[@derekbenjamin8143]

thanks for this series

[@REILIVEvideos]

Thank you for watching!

[@TonyAnczerRE]

Great info! 👍

[@REILIVEvideos]

Bruce is great. Thanks for the support!

[@bobbyrutledge8123]

I am currently under contract on a house with a purchase price of 195 k. Seller decided to give me a 10K credit for new central air in the home. Would something like that factored into the appraisal?

[@JB-ie3vo]

Should absolutely not know the contract price. Appraisers are partially to blame for the market we are in right now. Inching the values up 10-15k just to make the deal work for everyone. Over time, that matters.

[@JB-ie3vo]

But I love this series! Thanks

[@REILIVEvideos]

@@JB-ie3vo Bruce really knows his stuff!

[@sarahestradatxrealtor]

My buyers got their house for $15,000 less than contract price due to a last minute almost identical comp that sold right before the appraisal so if theyre honest they stick with the market shifts pretty well

[@appraiser1717]

Fannie Mae has no guideline saying that you can't go back more than 12 months. (may be a lender requirement) That info is incorrect.

[@jessemariahgarcia9312]

If you're going to ask a question, why not let the expert answer it instead of interjecting to show him how smart you think you are by answering it for him?

[@Logan-zi4vx]

No part 4?

[@REILIVEvideos]

Unofficial Part 4 here: kzbin.info/www/bejne/fp_PlWCvZcicfas

[@REILIVEvideos]

Thanks for watching!

[@REILIVEvideos]

We're thinking of doing another video. What are some things we should cover that we haven't already?