APPRAISAL MANAGEMENT, LLC
IF YOU HAVE EXPERIENCED PURCHASE LOAN CLOSING COMPLICATIONS DUE TO:
- APPRAISAL VALUE ISSUES
- PROPERTY CONDITION ISSUES
THIS IS A MUST READ!!!!!!
The real estate world has experienced drastic changes during the preceding seven years. We have experienced dramatic inflationary periods coupled with extraordinary housing value escalations. Lenders have experienced the offering of easy financing terms and conditions. Many prospered during this exceptionally active growth cycle. As with all of lifes cycles, particularly with economic or free enterprise market trends, factors were introduced that altered the growth cycle and our world changed in seemingly overnight rapidity. Home values plummeted. Foreclosure numbers went through the roof for reasons too long to list. New government legislation and directives were introduced that altered most key elements of the real estate industry in attempts to ward off the inevitable resultants and to fix the perceived erroneous methods of the real estate industry workforce. We now operate in a different world.
Appraisal Management, LLC has always strived to be on the leading edge of the changes that are and have taken place. This includes identifying an efficient approach to transitioning the appraiser workforce to the new demands of the HVCC, enacting a business plan that operates smoothly to control appraisal costs while maintaining fair lender pricing and appropriate appraiser pay levels. We have continued to upgrade our ordering software so that our processing time for orders is reduced from minutes to seconds. Our appraiser staff has been transitioning to the new UAD format months ahead of the required timeframe to ensure total compliance and underwriter familiarity at the start date.
The major challenge that has surfaced during this period of fluctuating home valuations is the final disclosure of real property appraisal value near the closing and funding dates of proposed purchases. Couple this with the appraiser disclosure of needed repairs to the property literally within days of a buyers timeframe to move in. Appraisal Management, LLC has a very efficient record for appraisal turn times, but even quick appraisal turns cannot combat the issues that occur when ordering an appraisal at the end of the purchase cycle.
Appraisal Management, LLC is leading the effort to encourage all parties associated with a real estate purchase transaction to obtain an appraisal in the very early stages for the purpose of obtaining an appropriate value for listing / selling purposes and to determine physical challenges with the property that can delay the closing of the transaction. Even the most seasoned real estate agents and brokers can be value challenged when trying to predict a proper value assessment for a listing in todays ever changing market. Purchasers of real property can be fervently cautious, but emotions can run high between buyer and seller during the negotiation stage. The resultant of emotional influence on any sales transaction can generate a judgment clouded decision. With an accurate, certified appraiser reviewed, HVCC compliant appraisal in hand, all steps of the purchase transaction will be completed without undue surprises that kill deals and add untold levels of frustration to all entities involved. An above the best image will be reflected upon those engaged to conduct this vitally important life event. Generating this order early is easier that you might imagine and will certainly buffer your clients from potential frustration and added expense.
We can assist you in transitioning to a better way of doing business. Call us to discuss valuation options and associated costs. I know you will be pleasantly surprised and after experiencing these methods, you will wonder 'why not sooner'.
