High Professional and Ethical Standards with Every Appraisal
Our goal is to deliver a residential or commercial appraisal that provides an independent and accurate evaluation representing true market value. We are committed to provide outstanding service, tailored to the business needs of our clients.
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Our value proposition
We offer lenders unparalleled value by providing
- Appraiser selection in compliance with industry and federal compliance guidelines
- A truly independent valuation performed free from pressure
- Credentialed appraisers, who have geographic competency
- Reduced or eliminated need for in-house appraisers
- Reduced compliance and business risks arising from substandard valuations or non-compliant procedures
- A MARS automated appraisal reviews on request
- An internal technical review to evaluate compliance
- Payment to appraisers of reasonable and customary fees when work is completed
- A computerized management system to centralize appraisal procedures, compliance documentation and minimized “turn times”
- Attentive and authoritative management support to both clients and appraisers
- A conservative business plan to ensure each appraisal is produced in strict adherence to both industry and federal rules
Normally, appraisals can be completed in 5 to 7 days; sometimes faster. We also offer rush service: a three day turn-around for a modest increase in fees. (Please note, not all properties will qualify for rush service.) CANCELLATION FEES: while you may cancel an appraisal anytime up to completion, a $35 appraisal fee will be charged, in addition to appraiser costs that were incurred prior to cancellation.
Our review process is in two parts: (1) we use an automated program to perform a fitness review of all appraisals before forwarding to FNMA and FHLMC to catch errors; (2) we also perform an internal Enhanced Technical Review of each appraisal prior to submission.
Automated Valuation Model (AVM)
The AVM is a quick way to form preliminary opinions (or reinforce existing viewpoints) on property valuations. The AVM is not intended to replace an appraisal of market value where such an appraisal is required.
To understand the compliance limitations of these tools, you may wish to read Guidance provided by the FDIC in FIL-82-2010.
How an AVM may be used:
- Eliminate properties that won’t qualify as “investor grade”
- Determine if a sufficient number of comparables exist to establish appraisal value that will satisfy investors
- Get independent input, prior to committing significant resources to underwrite a property
- Get supplemental information prior to ordering an appraisal
- Get quick info to determine the marketability of foreclosures and REO
The AVM must be ordered through us. Cost is $40 and delivery is usually 24 hours or less.