David Saks: July 2014

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 2830

#2830

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 8 commentsDavid Saks • July 07 2014 01:56AM
Real Estate Practice : Lesson 2830
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#2830 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… more
Real Estate Practice : Lesson 2829
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#2829 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 take your time. The solution is posted below th wildlife photo… more
Real Estate Practice : Lesson 2828
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#2828 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 fact true or false Please take your time. The solution… more
Real Estate Practice : Lesson 2827
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#2827 As a general rule, the appraiser will not use a sale as a com parable in his analysis unless the sale was considered to be an arm's length transaction Is this fact true or false Please take your time. The… more
Real Estate Practice : Lesson 2826
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#2826 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 method of appraisal Is this true or false … more
Real Estate Practice : Lesson 2825
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#2825 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 is posted below the wildlife photo. A… more
Real Estate Practice : Lesson 2824
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#2824 What part of an acre is 5, 445 square feet The answers, along with the corresponding solution, will be posted below the photographs at the bottom of the page, so spend a little time on it before you make your way to the bottom. It… more
Real Estate Practice : Lesson 2823
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#2823 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 encroachment. Is this fact true or false … more
Real Estate Practice : Lesson 2822
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#2822 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 solution is posted below the wildlife photo. .. more
Real Estate Practice : Lesson 2821
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#2821 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 below the wildlife photo. A. False … more