This is a quick read that was published in a national mortgage magazine in response to an article in the WSJ that was very critical on the appraisal profession. As Mr. Bunton states: appraisals neither set the value of a home nor confirm the sale price of a home. Instead, they are based on thorough and unbiased research and analyses, and are intended to reflect the market value of a property, which does not always align with the sale price. And that is what I do. All the parties in the real estate transaction have some sort of an interest in the success - from the mortgage broker to the real estate agents who have a financial interest - and the buyer and seller who have an emotional interest. The appraiser on the other hand has no skin in the game.
Posted on: Sat, 27 Dec 2014 23:08:16 +0000
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