Wmc
10-13-2007, 08:37 AM
I work for a wholesale lender and the investors are really tightening up on guidelines. Have you noticed your appraisals being cut with certain investors? We have been told that San Bernardino, Riverside & Orange Counties are flagged as declining markets. I've noticed some appraisers are using old comps. What are you seeing in this market?
Are you required to include pending sales in your appraisals?
Are you required to use comps dated within 60-90 days?
Are you required to use short sales as a current comp?
Just want to get some input from an appraiser.
Thanks, Wendi
Are you required to include pending sales in your appraisals?
Are you required to use comps dated within 60-90 days?
Are you required to use short sales as a current comp?
Just want to get some input from an appraiser.
Thanks, Wendi