Allied's Blog Page

This is to the appraisers out there who understand that form 1004MC from Fannie Mae is going to be a reality in April of 2009. What are your thoughts? And will any of you be increasing your fees for the additional work required to complete this form?

Just a thought...

 

Yes. We will be increasing our fees $100, effect 4/1/2009 due to the new 1004MC form.

We will be charging $100 extra for the form. Every appraiser that I've spoken with intends to provide it free of charge. I have no doubt that we will be paid $100 for our time so we're prepared to leave the business after 17 years. We're not a nonprofit business.

Tax appraisal is rmnedeited by sales price and tax rate.An appraisal is rmnedeited by market value. The appraiser takes comparable homes which have recently sold in the neighborhood and the condition of the home to determine appraised value. I wouldn't worry about it coming in any different from what you are offering the bank because the appraiser is a third party hired by you the buyer to give an accurate value. Even if the property was worth more he won't appraise the property for more then you offered. If it is a bank owned home then they already had an appraiser do an appraisal and probably a Realtor do a BPO. You can rest assure that the bank wants to sell the property and wants it sold yesterday so they are pretty good about pricing homes accordingly.So it looks to me the previous owner paid 109k and you are paying 96k so your taxes will be lower then his but during a market on an incline your tax appraisal could go up.Good Luck!