Frustrating reasons for rejected appraisals

Lower-quality property valuations on the rise

Appraisals are heavily based on comparables, which are similar houses in the same market area as the house being valued, and which were sold in the last six months or so. Much of the expertise of appraisers is in the selection of comparables, and in the ability to make informed judgments regarding how differences between the subject house and each comparable affect the value of the subject house.

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