Home appraisal used to take a day or two due to paperwork involved. Today, modern devices streamline this procedure with use of computer software applications and digital cameras. Appraiser E & O insurance and continuing education cover persons while measuring devices speed up the data collection method enabling estate appraisers to accomplish much in less time.
Appraisers are hired by lenders to place value on property. This valuation of property influences the decision of buyers, sellers and realtors directly. Therefore, such parties to the transaction may bring up lawsuits against the appraiser for mistakes and missed details. Appraiser E & O insurance protects people from such claims. This policy not only pays for mistakes up to the liability limits but also provides experienced attorneys to defend policy holders and clear court costs.
Specialized computer software saves valuable time and closes the margin of error to almost nil. Once the data is fed into the computer the program automatically process the data placing the correct figures and facts where they are required. The appraiser selects the form and puts in supporting data and when done email or print the finished product as required.
After photographs are shot the digital cameras are plugged directly to the computer allowing the user to scroll down and select the best pictures. The photos may be enhanced and resized as required. Laws, procedures and forms continually change with the new technology making work easier and education helping appraisers acquire necessary skills to stay in business while being protected by appraiser E & O insurance.