Whenever buyers need a mortgage to buy a home, they’ve probably been told that they need an appraisal. This is an inevitable part of buying a home for anyone who needs a mortgage and, like it or not, it can make or break the transaction.
Because appraisals are a crucial part of the transaction, real estate agents should understand the appraisal process. Even though you may prepare a competitive market analysis (CMA) for your clients, CMAs are not as detailed, nor do they serve the same purpose as an appraisal. A home appraisal is an unbiased determination of the fair market value of the home by a professionally-trained third party.
This course provides a review of the sales comparison, cost, and income approaches in appraising real estate.
This course provides continuing education hours for licensed real estate licensees. It is intended to enhance the knowledge and effectiveness of licensees and is approved for 4 hours of continuing education.