Appraisal work beyond real estate

[jentika]

Hello!

My old supervisor never did any work for attorneys or estates or anything beyond the real estate world. What is the best way to learn how to do things like estate appraisals or divorce appraisals?
I am trying to expand my business because it is so insanely slow right now. Are there examples I could reference or just any kind of training beyond the generic classes offered?

Thank you!

 

[TerryRohrer]

First, your phrase "the real estate world" presumably should read "real estate mortgage financing." Real estate appraisals all focus on the real estate. The Appraisal Institute has a number of Professional Development Program Series, and the Litigation series covers most of what you are seeking. Those three classes include: The Appraiser as an Expert Witness; Litigation Appraising: Specialized Topics and Applications; and Condemnation Appraising: Principles & Applications

 

[Terrel L. Shields]

never did any work for attorneys or estates

shoeleather time. Prepare a nice resume with the services you can provide. Check sources for attorneys and CPAs who specialize in estates. Avoid the divorce without good training AND court experience. There are classes on A-non-lender assignments and B-court testimony and reports. Learn to write a narrative. Or at least use a general purpose form. Prepare to do large LAND appraisals, rental property, and try to get your commercial certs. That's where the money is. I have 2 assignments that will take me the rest of the month. One is a retro report on 400 acres back to 2009 and the other is a cattle auction barn. These are not simple but the fees involved make up for a dozen SFRs.

So get the course work finished. Take a live class on the litigation side as they may bring in actual attorneys to question your report. Non-lender class with OREP was good. Go watch an appraiser in court.

 

[Mark K]

Hello!

What is the best way to learn how to do things like estate appraisals or divorce appraisals?

If you can competently complete a mortgage report, you can do estates or divorces, with some modifications.

Put Fannie/Freddie guidelines/regulations out of your mind. Think USPAP, not F/F.

Learn to write a report so a non-mortgage/lending person can understand it. You need to do more explaining/narrative in the report.

Don't even think about using a UAD type of form; use a GP form of some type if you must use a form. The UAD form is a piece of garbage written by a computer programmer to facilitate data mining for the mortgage industry.

Take and include a lot of photos in the report. People love photos, plus they describe the property better than you can.

Make sure of the effective date. Use the correct definition of value needed by the client. State, several times in the report, who the report is prepared for and who the client and intended user is and that it is prepared solely for their use.

Most importantly, collect the fee upfront or at the door. You don't want to chase down lawyers, heirs, parties to a divorce, etc. to collect your fee.

Charge accordingly. I usually charge about 1.5X what a mortgage appraiser charges for a SFR report.

Those three classes include: The Appraiser as an Expert Witness; Litigation Appraising: Specialized Topics and Applications; and Condemnation Appraising: Principles & Applications

The above classes are well worth the time and effort to help you think outside of the F/F box/handcuffs.

 

[Tom D]

i suppose you need to knock on a lot of doors to introduce yourself. hopefully it isn't after 10 other appraisers have knocked on that same door.

 

[Appr8492]

First, your phrase "the real estate world" presumably should read "real estate mortgage financing." Real estate appraisals all focus on the real estate. The Appraisal Institute has a number of Professional Development Program Series, and the Litigation series covers most of what you are seeking. Those three classes include: The Appraiser as an Expert Witness; Litigation Appraising: Specialized Topics and Applications; and Condemnation Appraising: Principles & Applications

I don't think anyone here is a grammar coach, linguist, or english professor. . Learn some basic manners.

 

[TerryRohrer]

I don't think anyone here is a grammar coach, linguist, or english professor. . Learn some basic manners.

GFY