As an Appraisal Management Company we constantly get asked what borrowers need to do preparing for the inspection. Over the many years we have compiled a list of suggestions to help make the appraisal process most effective. These are simply suggestions that will help the appraiser in forming the opinion of value.
As an appraisal management company we get asked quite frequently by many Real Estate professionals “How do I prepare my clients for the appraisal inspection?”. We love hearing this question because its a true demonstration that that the agent or MLO really cares about the client and wants to be pro-active rather than re-active. In the long run it makes all parties look good! I have posted what I believe are the top 5 items that call for the appraiser to Re-Inspect when it can be avoided. Enjoy and good luck!
Lenders in todays climate are experiencing a rush of changes. The appraisal industry is no different, HVCC, Dodd-Frank, State Regulatory Adoptions, UAD, UCDP, FHA, Fannie Mae and Freddie Mac have all made a significant impact on the way appraisals are done. Many Lending Institutions (LI) have attempted to manage the appraisal process “in house” only to encounter the many regulatory obstacles, operation expansion and increased expenses that come along with managing appraisals.