Can a real estate agent prepare an appraisal?

As a real estate agent, you can provide great perspectives about a property. But you cannot perform an appraisal unless you are also licensed as a real estate appraiser. Despite reviewing similar data, an appraiser and a salesperson may arrive at different property valuation.

What questions should I ask an appraiser?

5 Questions You Should Ask an Appraiser

What is your license number? It’s imperative that you hire a licensed appraiser.
Where is your office located?
Do you work alone, or with a company?
Are you licensed or certified?
Are you a member of the local MLS?

Can a buyer be present at appraisal?

Yes, the appraiser will actually visit the house during the home appraisal process. There is no specific rule that says buyers cannot attend, but the process is typically handled by the appraiser alone. You would have to contact him to see if you can be present when he visits the house.

Can you question an appraisal?

Yes, you can even question the bank or mortgage company about the actual appraiser. There are a few key factors that could bring his valuation into question: a. Did he or she actually enter and walk through home, or did they only do a drive by?

What should I ask during a home appraisal?

“What Information Does the Appraiser Base Their Appraisal On?”

Location.
Amenities.
Number and size of bedrooms.
Roof condition.
Deficiencies.
Capital improvements.
Date of upgrades.
Sales data for comparable properties in the area.

What are the 3 types of appraisals?

There are 3 major categories of appraisals within the marketplace and those in the industry define them as: Business Valuation, Real Estate and Personal Property appraisals. While there are overlapping approaches to value in these appraisal fields, there are specialties within each of these fields.

What do you need to know about Massachusetts real estate law?

The “closing or settlement of the types of real estate transactions described in the record require not only the presence but the substantive participation of an attorney on behalf of the mortgage lender, and that certain services connected with real property conveyances constitute the practice of law in Massachusetts.”

What do you need to know about the appraisal process?

As defined in USPAP, an appraisal is the act or process of developing an opinion of value. The valuation process is a systematic procedure the appraiser follows to answer a client’s question about real property value. The most common type of appraisal assignment is the development of an opinion of market value.

What is the law of land in Massachusetts?

“As a general rule, the title of persons who acquire land bounded by a street or way runs to the center line of the way, G. L. c. 183, § 58 , and carries with it the right to use the way along its entire length… To that general rule, however, there are limitations.” Michelson v. Sherman, 310 Mass. 774 (1942)

How to buy a home in the state of Massachusetts?

Buying a home, A. Joseph Ross, 2011. Describes the basics of buying a home in Massachusetts. Includes costs and other issues to consider, including buying with others or renting it out. Requires free library card for access. Explains the process from figuring out what you can afford, to getting a mortgage, moving in, and more.

How to get an appraisal permit in Massachusetts?

There is no set limit. You may apply for a permit when you are applying for appraisal of federally related property in Massachusetts. All application materials may be found at the Board’s website at https://www.mass.gov/service-details/appraiser-board-applications-and-forms

How many hours are required to become an appraiser in Massachusetts?

Yes, effective February 6, 2009, the required primary education hours for a trainee license is 75 hours: 15 hour USPAP, 30 Basic Appraisal Principle and 30 Basic Appraisal Procedures. What is the effect of the statutory amendment to Massachusetts General Law (MGL) Chapter 112, Section 181?

What to ask an appraiser about your area?

So if their office is distant, start asking the appraiser questions about your general neighborhood. Ask until you feel comfortable with the appraisers knowledge about your area. Your appraiser does not necessarily need to live or have an office located in your direct area but they need to be informed on the market and have geographic competency.