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Will the Home Valuation Code of Conduct Affect the Appraisal of My Home?

April 26, 2017affect appraisal appraisals buying code conduct Home Selling valuation

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Will the Home Valuation Code of Conduct Affect the Appraisal of My Home?

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Will the Home Valuation Code of Conduct Affect the Appraisal of My Home?A reader asks: “I am totally confused. I heard that some new rules are in effect for appraisals, but what I find online is a bunch of loan guys complaining about it. What gives? Sounds to me like the new appraisal procedure protects the public. I’m putting my home up for sale next week. Will the Home Valuation Code of Conduct affect the appraisal of my home?”Answer: You’re not alone in your confusion. On the surface, the Home Valuation Code of Conduct, known as HVCC, sounds like a good idea. The new appraisal process went into effect on May 1, 2009. However, it could possibly result in a low appraisal on your home. The New York State Attorney General Andrew Cuomo in 2007 filed a lawsuit against eAppraisalIT and its parent, First American, for caving in to