Download This FREE Form!
Sometimes you disagree with an appraised value, or you just get a bad appraisal. Before getting a second opinion of value (see below) you may be able to resolve your issues by filing a Reconsideration of Value Request with the lender. Fill out the request form to gain access to download our free Reconsideration of Value Request Example and form Template.
It Can Save Deals (and Hassles)
Many Realtors have used this more than once, often with great success, so save these on your computer. A well written reconsideration of value is a powerful tool!
Fill out the request form to gain access to download our free Reconsideration of Value Request Example and Template.
There Are Many Other Types of Appraisals (and We Can Help With All Of Them)
This appraisal works great for unique homes and in challenging or rapidly changing markets. Or perhaps you and your seller are just not seeing eye-to-eye. When you order a pre-listing appraisal, you get an unbiased, objective, and independent appraisal that will help you and your seller determine the best course of action for getting their home sold.
Perhaps you took a listing knowing it was overpriced. Or are listing a home in a challenging or rapidly changing market. A price-adjustment appraisal can be a great way to objectively relay to your seller that the list price of their home needs to be more competitive. This appraisal will come from someone outside the transaction and can help your client understand the current market.
Reconsideration of Value
-FREE- Sometimes you disagree with an appraised value, or you just get a bad appraisal. Before getting a second opinion of value (see below) you may be able to resolve your issues by filing a reconsideration of value with the lender. Download our free Reconsideration of Value Request Template and the Example as a guide showing how to fill this form out. Many Realtors have used this more than once, often with great success, so save these on your computer. A well written reconsideration of value is a powerful tool!
Second Opinion of Value
You have a signed purchase contract, and the appraisal has been ordered. Have you ever felt uncertain or even helpless about what the appraisal results will be? As an appraise we understand this feeling, and possibly why you feel this way. For almost all purchase transactions lenders utilize an Appraisal Management Company (AMC) to source the buyer’s appraiser. AMC’s take the appraisal fee approved by the lender, pay a portion to the appraiser, and keep the rest. The vast majority of AMC’s will select the appraiser from a large list based not necessarily on the quality of work, but on the lowest fee, and the fastest delivery date. The reality of this transaction environment is you often get what you pay for, which may mean a less qualified appraiser reducing the amount of work put into the appraisal due to the reduced fee. The result can be an inferior appraisal product, with reduced accuracy, possible financial losses, or even a cancellation of the contract. The stakes are high, and this is not how the valuation of a home should be approached. We can help contest the results by reviewing the appraisal for factual errors, poor choice of comparable properties, and lack of support of the value conclusion. We can also provide you with a new appraisal prepared by a highly qualified appraiser.
Price Verification Appraisal
This is a great appraisal if your client is paying cash for a property since a bank appraisal will not be required. This appraisal will ensure your client is not overpaying for the property.
Home Improvement Appraisal
A great product for those that work with investors. This appraisal will provide an “as completed” value. Unlike “as-is” appraisals where the home’s existing features are used to determine the value, “as-completed” appraisals are valued as if the new features being planned in the renovation already exist in that home. The appraiser will rely on renovation plans to evaluate the value of the property in its future state. We can help your client to get an honest look at their potential ROI so they can keep investing through you.
One of the main elements used when pricing a home is square footage. If the square footage is incorrect, it can have a significant effect on the value. See our Home Measurement Services page for more details.
If you are not ready for a full appraisal or need some insight about a property from an appraiser’s perspective, then consulting may be for you. Email Steve at [email protected] for rates and information. With over two decades of experience there are many ways we can help you.