Changes in lending practices and economic conditions have created a need for appraisers who have specific knowledge and experience to properly develop and document opinions of real property value in foreclosure. This timely new seminar will provide participants with the information needed to assist clients in making well-supported decisions about the final disposition of real estate acquired through foreclosure. It begins with a look at the foreclosure process and the role of those involved. Users of appraisal services will become familiar with the many resources appraisers can offer to solve different dilemmas. Appraisers will learn how to formulate a scope of work that not only provides a solution to the user’s problem, but also the ability to determine the type and extent of research required to arrive at credible results.
At the end of this seminar participants should be able to:
Understand the needs of clients who order appraisals for preforeclosure, foreclosure, or postforeclosure decisions.
Recognize the range of services that an appraiser can provide in preforeclosure, foreclosure, or postforeclosure decisions.
Identify the elements involved in completing assignments.
Differentiate between various types of value definitions.
Identify the market for a property.
Formulate a proper scope of work when completing appraisal assignments in a preforeclosure, foreclosure, or postforeclosure decision.
Understand inspection requirements for assignments in a preforeclosure, foreclosure, or postforeclosure decision.