The following is a guest blog post by Woody Fincham, SRA, principal, F&M Associates, Inc.
With so many appraisers vying for low-fee appraisal management company and lender-related work, many AMC-centered appraisers are starting to compete for non-lender work.
Most consumers don’t understand the need for experienced and designated appraisers outside of lender use work. It’s the appraiser’s responsibility – and in his or her best interest – to remind non-lender clients that hiring a designated appraiser is worth their time … and, most importantly, their money.
Attorneys, financial experts, homeowners and other non-lender consumers and users of residential appraisal services should tread very carefully when selecting appraisers. There are two distinct groups of appraisers in residential valuation: appraisers who perform primarily mortgage related work and those who work with non-lender clients. It pays to be able to discern between the two groups. [Read more…]