Real Estate Appraisal (6 of 6) Quicken Loans TV, Backyard and Conclusion

[dukenthaylor]

on the "closet in the bedroom" issue...maybe Michigan state law is different, in that it actually REQUIRES a closet for the bedroom definition.

[jmk021]

Thanks for this video. We are having our house appraised soon so this was very informative! I feel like I actually have a clue as to what is going on now.

[ellitestar]

Hugo knows his shit!..(good job). thanks.

[lapolonyc]

She is SOOOOOO annoying! Was hard to watch it!

[Passionslvr]

Wow, I enjoyed the video. We are buying a home and had an appraisal done today(Yeah on a sunday) of our soon to be home and now I'm nervous.

[Steelhorsecowboy]

An appraiser may inspect a number of homes in one day however researching and writing the report takes many hours.

It is a fairly involved process which requires research, confirmation of facts, analysis and exterior inspection of the cited comparable sales.

In deciding which improvements will provide the greatest return to the property look at the improvements many of your neighbors have made. This is the best indication of market desirability.

[Steelhorsecowboy]

Hugo too, did a good job. As one poster said, a closet is not essential to a bedroom classification. A key criteria is ingress/egress rather than closets.

It should be further noted that if it is a FHA loan FHA appraisal inspection protocol requires inspection of attics and crawlspaces, operation of heating, air conditioning, faucets, and a representative number of electrical fixtures.

[Steelhorsecowboy]

I have been a State Certified General Appraiser for 30 yrs. I think this is a reasonable representation of the appraisal inspection. Allison did a good job and asked the questions homeowners typically ask me. She did however err, I believe when she asked "what are the qualifications to appraise personal property"? I believe she meant to ask "real property". Personal property is the furniture as opposed to the site as improved with the structure of the home.

[rhealion]

A good general view of the appraisal inspection by both the interviewer and appraiser. But ask Hugo to cite the written source for the rule that "all bedrooms must have closets". It is a myth that just won't seem to die.

[aredeemed1]

But because it is a myth "that won't die", it is a good idea to make sure that you have a closet in a bedroom so that you aren't unfairly defaulted.

[kevincolmergmail]

Allison Snell needs to be fired. Good video. Did not like her at all.

[quickenloans]

We are glad you like the video. Sorry you don't like Allison. Our viewers love her. Hey, even De Niro has his detractors. Appreciate the feedback. Have a great day!

[DARRANLYONS]

Outstanding information

More please