Unskilled Appraisers Seen as Problem
Regulations intended to promote accurate real estate appraisals sometimes result in poorly qualified appraisers being assigned to determine property values for mortgage lenders, the nation’s largest professional organization for real estate appraisers has acknowledged.
Real estate appraisals “sometimes are assigned to the least qualified, least competent” appraisers, according to the Appraisal Institute, because the appraisal management companies that hire them seek to pay as little as possible.
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