Steps for a lender to help make
faster turn times
If you worked with appraisers ten
years ago, you know how much technology has changed since then. What
you might not realize is that there have been many developments in
technology and e-commerce that have improved turnaround times on
appraisal assignments. We're taking advantage of them. Are you
taking advantage of every opportunity you have to speed up the
process? Here are some suggestions.
Are you ordering appraisals on
line? With on line ordering, you get e-mail acknowledgments that
the assignment was received, and fast, PDF
format report delivery. It's the single biggest time saver available
to both of us! We don't have to retype information from a fax, and
you don't have to wonder whether we received the order.
Are you providing complete and
accurate information about the subject property? There's nothing
like being one number off on the street address to add unnecessary
time to an appraisal assignment. And if you have a tax parcel
number, plat map number, subdivision name or anything else that
uniquely identifies the property, please pass it along. We even
welcome lists of recent sales in the area — though be advised that
as professional appraisers must always do their own due diligence on
comparable sales, and ours might differ from yours.
Are you letting us know up front
any details about the property that might make it unique?
Cookie-cutter homes are relatively easy to appraise. What takes time
is analyzing how unique features contribute to or detract from what
otherwise would be a property's market value. Let us know up front
when you order your report if there are unique features of the home
or surrounding area — for example, it's had a recent addition put
on, new pool/spa , multiple parcels, subject to zoning restrictions
These are things we'll find out on our own anyway, and knowing them
as soon as possible makes your report arrive more quickly. If your
client has permits that is better.
Are you making the occupants of
the home aware of what to expect? One of the most time consuming
parts of the appraisal process is setting an appointment with the
occupants of the home. Some homeowners are understandably
uncomfortable with the fact a stranger wants to come in their house
and look around, take pictures and make notes. Some think they have to make the
place spotless before the appraiser comes by, thinking that will
make the house appraise higher. So they put off the appointment
until they can get around to cleaning. Hearing from you can
encourage them to call us and informing them that it's in their
interest to set the appointment as quickly as possible! We are not
looking for immaculate clean houses. We are looking for general
condition and maintenance.
If a the property has a tenant
and/or property manager please have them or the owner call and
alert them that we will be calling to set an appointment or have
them call us to help cut time. We normally call within a few hours
of receipt of the request.
Please be sure that the contact
information is correct and that the person we are calling has
access to the property. a wrong number can lose days as we leave
messages for the wrong person. You will be called on the 3rd attempt
or sooner to let you know of any delays.
Please provide sales
contracts, disclosure statements, plans and specs and cost estimates
as necessary ahead of the appraisal appointment.
What do we do to help your report
Provide FHA case numbers in advance if
We call your client within a few
hours of getting the request.
We try all the numbers you give us
and will even email if we can
We make schedules that allow for your
report to be typed and sent usually within a day of viewing.
We use technology to be accurate the
first time and train the staff to help take the non-analysis parts
of the report away from the appraisers time. These are of course
checked over to insure accuracy. We have automated flood maps,
digital maps, digital cameras and of course email.
We accept Pay Pal upon request to
expedite payment and avoid delays for lack of payment.