David Saks: February 2011

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 1030

                                                          #1030

If you think the appraisal on the property is too low you should request and submit a reconsideration request only if it is requested by a loan officer.

Is this fact true or false ?

Please remember to take your time. The solution is posted below the wildlife photo.

wildlife

A. False

You don't have to wait on the loan officer.

You can redefine and update your CMA, assess the items in the current appraisal that led to the low appraisal fiqure, and request reconsideration if you think it will be reviewed again.

 




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • February 21 2011 11:46AM
Real Estate Practice : Lesson 1030
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#1030 If you think the appraisal on the property is too low you should request and submit a reconsideration request only if it is requested by a loan officer. Is this fact true or… more
Real Estate Practice : Lesson 1029
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#1029 A property lost some value because it was close to a county landfill site. Ths is know as functionl obsolescence Is this fact true or false Remember to… more
Real Estate Practice : Lesson 1028
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#1028 Most all sales comparison methods of appraisal are based on the assessed values of property as used for the purposes of establishing revenue for property taxes. Is this… more
Real Estate Practice : Lesson 1027
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#1027 As a general rule, the appraiser will not use a sale as a comparable in his analysis unless the sale was considered to be an arm's length transaction Is this fact true or… more
Real Estate Practice : Lesson 1026
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#1026 When an appraiser is considering the value of a residential property the most valid and important method of appraisal that the appraiser will use is called the replacement cost… more
Real Estate Practice : Lesson 1025
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#1025 A low risk loan is one that doesn't have to have a downpayment rather than a low loan-to-value ratio. Is this fact true or false Please take your time. the solution… more
Real Estate Practice : Lesson 1024
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#1024 When a lender seeks a residential appraisal the lender is most likely seeking a appraisal that will determined the assessed value of the home. Is this true or false … more
Real Estate Practice : Lesson 1023
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#1023 A homeowner has without warning, and without knowing, constructed a fence in his backyard about 7 inches over the property line of his neighbor. This would be considered an… more
Real Estate Practice : Lesson 1022
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#1022 A lender charged a borrower 6% for the loan plus 6 discount points The yield to the lender for the loan is 6. 25%. Is this fact true or false Take your time. The… more
Real Estate Practice : Lesson 1021
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#1021 A broker's obligation to a customer includes the duties of full disclosure and obedience Is this fact true or false Please take your time. The solution is posted… more