A desktop appraisal, also known as an appraisal without an onsite inspection, is a faster way to complete an appraisal for a home loan. With a desktop valuation, appraisers use extensive data gathered by third parties and public records in place of a physical inspection to complete the appraisal.

While alternative appraisal services like bifurcated and desktop appraisals aren't new, they are becoming more popular. Many appraisers are uncertain about the general requirements of each service, how appraisal standards might apply and how these services might create liability.

This seminar will provide more clarity about the different services being requested and help you to decide if these services are for you. Attendees will examine the expectations of alternative appraisal services, potential uses, appraisal standard implications, scope of work and liability concerns as they apply to residential and commercial assignments. Attendees will also explore different evaluation formats and the business opportunities for each.

Learning Objectives:

• Describe desktop appraisals, such as bifurcated and hybrid, and learn how and when they are used.
• Discover how real estate collateral is used inside federally regulated banks and financial institutions.
• Review the significant federal and state laws governing all valuations—appraisals and evaluations—used for loan originations, modifications and other subsequent transactions.
• Identify appraisal standards, interagency guidelines, lender requirements and state law requirements for credentialed appraisers.
• Recognize the development and reporting differences that differentiate appraisals from evaluations and desktop valuation services.

Lunch will be provided for all registrants and will be held from 11:30 a.m. to 1 p.m. Appraisal Institute members and non-members are welcome to attend.

Class Details & Registration

Instructor: Douglas Potts
CE Credit: 7 Hours
Cost: $185 for Appraisal Institute Members | $225 for Non-Members

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Please be advised that this course is offered by the Memphis Branch Chapter of the Appraisal Institute (AI) and is only approved for AI CE credit. It is not approved for REALTOR^® CE credit by TREC.