Consider various real estate agencies, brokers, mortgage companies, lending institutions etc. and think of the volume of documents they come across daily. They also come across various types of people with different types of documents for verifications. Some of them might tend to give forged documents so that their loan gets passed easily. These instances are very common these days due to certain factors we tend to ignore. How many of us just put our expired atm cards, credit cards and other important documents in the bin? Virtually majority of us do that intentionally or unintentionally which is very wrong. Our identity can be misused in a multiple number of ways we cannot even imagine but it is our responsibility to safely dispose our confidential documents. It is extremely important to do that stuff and any negligence in this matter has serious consequences.
So there must be something available in the market which could avoid these sorts of things and safeguard our important documents. Paper shredder is one such mechanical device which cuts paper and cards like credit or atm cards to pieces so that they cannot be reused. It is quite important for all offices to have this machine as they come across number of identity documents to be shredded every day and real estate is no exception. It is vital for real estate dealing agencies to have this machine so that identity frauds could be minimized.
The next question comes to mind is that which is the best paper shredder for office or home use? There are number of options available in the market to choose from but to elect the best one is not an easy task. First of all we should have a close look into the market and find out few best brands for the paper shredder. After that we should enlist our day to day usage and find out how sensitive information we have to destroy. We should buy the paper shredder according to our usage and price. It ranges from $50 to over $300. So we should set the price range for our best buy. There are other things to consider such as the type of paper shredder according to various categories like type of cut or how many papers can be fed into the machine at once. The range can vary from as much as 8 sheets to 24 sheets in one go. There are other parameters also like the size of the bin. Obviously bigger the size less is the concern to empty the bin at short intervals of time.
What is an appraisal? An appraisal is defined as the professional opinion of value as determined by professional appraisal standards (Uniform Standards of Professional Appraisal Practice, see below). Generally, appraisers consider appraising to be a science. Your opinion, the lender’s opinion, and a professional appraiser’s opinion may differ, sometimes drastically. But appraisers are required to be objective and impartial in their analyzes and opinions. A professional appraiser has been trained in appraisal methodology and determines by way of recorded or verifiable data how your home compares with sales and listings of homes similar to yours. Further, the appraiser considers many factors such as price trends and proximity to a freeway, complies with professional standards, and usually completes a written report.
What is an appraiser? An appraiser is a real estate professional who specializes in providing opinions of value (appraisals). Most appraisers are real estate appraisers, who specialize in real property. Other appraisers specialize in other types of property, such as gems or machinery and equipment. Professional appraisers have taken courses and been supervised during their training period. State licensed and certified appraisers must pass a test and have completed basic education and continuing education. Most states also require a period of supervision, usually 2,000 hours before being able to do appraisals their own, otherwise the appraiser is considered a valuation specialist.
What’s the difference between an appraiser and a real estate agent? Real estate agents are salespersons and sometimes, as a service and due to hard to find comps, provide appraisers with comparable data. Real Estate agents can provide you with a close value, but the appraiser is the expert.
Some real estate agents provide appraisals for other purposes such as divorce or “evaluations” for mortgage lending purposes. A fee may or may not be charged for these appraisals. If the real estate agent is providing an appraisal, that is not part of their role as a salesperson, and is a Realtor member of the National Association of Realtors (NAR), NAR regulations require adhering to professional appraisal standards of the Uniform Standards of Professional Appraisals.
Who can complete appraisals? In most states, anyone can do appraisals for non-lending purposes. However, only state licensed and certified appraisers are subject to discipline by their state regulatory agency. Professional appraisers have training and experience in appraisal methods and techniques. Most Lenders require that a state licensed & certified appraiser complete the appraisal report.
What do appraisers really do?
Upon receipt of an appraisal order, the appraiser will usually check the M.L.S. (multiple listing service) to locate several “comps” (listings and closed sales within the last six months preferably) to the subject property
research public records,
obtain a plat map,
check the zoning, and confirm the flood zone.
The appraiser will then inspect the subject property (inside and out).
During the inspection, the appraiser will make a drawing of the home and other improvements such as a swimming pool and make notes on physical characteristics such as floor coverings and built in appliances.
He or she will check the site boundaries against the plat map and view the adjacent properties,
Pictures of the subject property, rear, and street views and taken.
After completing the inspection, the appraiser will carefully review all aspects of the comps, property type, location, condition, the financing (seller concessions play a role in the adjustments of the comps). The appraiser will generally find three solid sale comps and at least two listings.
Once the comps & listings are determined, the appraiser will complete a street inspection and take photos of each.
The appraiser contacts the real estate agent to confirm sale terms, condition of the property, seller concessions, etc.
The appraiser then reconciles conflicting information from different data sources and writes the report. It takes approximately 8 hours to fully analyze and complete an appraisal report on a single family urban home.
What about appraiser licensing? Because of the savings and loan crisis in the 1980s, appraisal licensing was set up in every state by the mid 1990s. A few states are “mandatory” where all appraisals must be done by licensed or certified appraisers, but most only require licensed or certified appraisers for mortgage loans over $250,000 (an other state and federal requirements). A few states licensed appraisers prior to that time.
State certified appraisers (residential and general) have higher requirements than state licensed appraisers. For more information on requirements visit Appraisal Foundation.