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There is a murmur of complaints being heard from across the nation from home sellers and real estate professionals, ever since the Home Valuation Code of Conduct (HVCC) was introduced. The goal of the Home Valuation Code of Conduct (HVCC) is laudable – which was to prevent coercion in the appraisal process and make appraisers more independent.
However, it has led to significant unintended consequences for home sellers. The biggest problem has been out of area appraisers who lack the local knowledge and expertise making valuation judgments. Some of the common errors being made by these appraisers are comparing dissimilar properties to come up with the final value. It seems that the quality of data being used is questionable.
So how are savvy homeowners handling it? Some of them are challenging these valuations and are filing complaints with the state regulatory agencies. Others are considering legal action.
Learn from other home sellers, and find the right pill to solve your headache.
CLICK HERE to read of experiences of other home sellers.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Appraisers Cause Headaches for Home Sellers is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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