What's your time worth?
Utilize our appraisal consulting services for fast results, you'll be glad you did.
Through our appraisal consulting services you can obtain a comp check before wasting your clients money for a full appraisal fee while saving your time on submitting a file that has no chance of hitting value.
In addition, you will have some amo in the way of comparable's if the banks appraisal comes in low.
Possible scenario situations to consider while servicing a loan:
Scenario: #1 Borrower states home is worth $650,000, you need the equity to make the loan fundable. The broker spends 3 to 5 hours working the file, the borrower spends $450.00 on an appraisal fee only to find a week that the home is valued at $500,000 in the current market. Result: Dead file, wasted time and wasted money. No one's satisfied.
Scenario: #2 Borrower states home is worth $650,000, you need the equity to make the loan fundable. The broker spends 10 minutes sending us the order and with-in 1 business day we advise you that the top of the market for subjects area is $500,000. Result: Dead file with minimum of time expended by broker and nominal fee to either broker or borrower. Everyone's satisfied!
We're here to help you save time and save your borrower money in the long run. If you are 100% sure the loan to value is their then our service is of no help, but if your not you can order a comp check.
Process of comp check:
We pull public records for the subject, search MLS for what an appraiser would consider to be the most recent and most relevant indicators of value for this specific property taking into consideration, size of dwelling, size of lot, date, and location, location, location. You can't get this from putting an address in a web site, or receiving a list of sales from a title company.
We also take into consideration the most current listings, if they are short pays or not. Listings can never help you, but a low listing which is determined to be viable (not a short pay, or a tear down) can hurt you.
Results:
A list of true comparbles, with a high and low end for the broker and the borrower, to determine if the loan and further large expense for money and time/cost analysis is warranted.
Fee based on owners estimate:
Under $499,000 $25.00
Between $500,000 to $999,000 $37.50
Over $1,000,000 $50.00
Please note: Our choice of comparable's is based on a cursory desk review of information available in public and MLS records only, choice of comparable's could possibly.