In a Real Estate transaction, the decision is on you – the buyer or sellers; make it an informed one by hiring us.
1) Real Estate Brokers and their Agents are not Lenders, Title Examiners, Certified Appraisers, and especially, they’re not Attorneys.
2) When Real Estate Agent’s List a property to market, 92% as of late 2019 Home Buyers will be Financing that home with a Mortgage-Backed Security (MBS).
3) Both the Residential Real Estate Broker and their licensed Agent’s core competency is to market and sell real estate. They do not possess either the Education, License, Experience, and regulatory compliance as NAR Ethics mandates.
4) Residential Brokers and their Agents are to advise their client’s to speak and or to engage the most relevant licensed professional for their customers’ best interest. In the context of financing a mortgage, Lenders are required by law to hire a qualified Licensed or State Certified Residential Appraiser.
5) Real Estate Agents are not responsible for either a higher than the market price or lower than market price “Comparative Market Analysis (CMA).” Only a qualified State Licensed and Certified Appraiser is the acknowledged expert.
6) In closing, if there is to be Mortgage Lending in your transaction in 2020: It’s Individual Lender Policy, Rules, and Stipulations. Then Federal and State Agency rules. And finally, The Uniform Standards of Professional Appraisal Practice (USPAP) which is the recognized ethical and performance standards for the appraisal profession in the United States.
7) USPAP was adopted by Congress in 1989 and contains standards for all types of appraisal services, including real estate, personal property, business, and mass appraisal.
8) Compliance is required for state-licensed and state-certified appraisers involved in federally-related real estate transactions. Continuous updates and Appraisal education occurs every two years.
9) In closing, appraisers have the credentials, continuous education, information, and analysis they need to deliver unbiased and thoughtful opinions of value. This is unlike the “Comparative Market Analysis (CMA),” which is simply a non-standard, non-compliant, subjective marketing and real estate sales tool.
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