REVIEW PRODUCTS
We provide a diverse range of appraisal review products, allowing you to select the option that best meets your specific needs. Every review is conducted by an experienced panel appraiser with in-depth knowledge of the local market, ensuring geographic competency. Each product is tailored to deliver a licensed appraiser's professional opinion on the accuracy and reliability of the appraisal report under review.
2000
Appraisal Field Review
This form is created to give the Lender/Client a professional appraiser's evaluation of the accuracy of the appraisal report under review. A new appraiser will be assigned to the task, conducting an inspection of the subject property and the comparable sales provided in the original report. Based on their inspection and market research, the appraiser will assess whether the original opinion of value is supported. If it is not, they will offer their own opinion of value, supported by relevant comparable sales and a detailed explanation.
2000A
Two to Four Unit Residential Appraisal Field Review Report
This form aims to offer the Lender/Client a professional assessment of the appraisal report's reliability. A different appraiser will be assigned to the task, conducting an inspection of the subject property and reviewing the comparable sales presented in the original report. Using their findings and market analysis, the appraiser will evaluate whether the original value conclusion is valid. If it is not, they will provide their own value estimate, supported by relevant comparable data and a detailed explanation.
2006
Appraisal Desk Review (Enhanced)
This form is intended to evaluate the appraisal report under review. The appraiser will use a detailed checklist to verify accuracy and completeness, without conducting an inspection. The review appraiser will determine if the original value conclusion is supported and may provide their own value recommendation. This form can be utilized for loan decision-making or compliance purposes, such as portfolio reviews.
LAW PROFESSIONAL SOLUTIONS
Fair Market Value Appraisals
Fair Market Value (FMV) appraisals determine the most likely price a property would fetch on the open market under normal conditions. These appraisals are commonly used for:
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Tax Appeals: Helping property owners contest property tax assessments by providing an accurate valuation.
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Equitable Property Division: Supporting divorce settlements or partnership dissolutions by ensuring a fair division of property assets.
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Estate Planning or Probate: Establishing the value of assets for distribution among heirs or for tax reporting purposes.
Date of Death Valuations
Date of Death (DOD) valuations provide the value of a property as of the date a person passed away. These appraisals are crucial for:
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Estate Settlements: Determining the value of assets for probate or inheritance tax purposes.
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Tax Reporting: Providing documentation required by the IRS or state agencies for accurate tax filings.
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Asset Distribution: Ensuring heirs receive a fair and documented share of the estate.
Pre-Appraisals
Pre-appraisals offer an estimated property value before a transaction or legal process begins. These are particularly useful for:
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Legal or Financial Decisions: Helping clients make informed decisions about selling, purchasing, or settling disputes over property.
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Planning Ahead: Giving property owners clarity on value for negotiations or estate planning.
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Reducing Surprises: Identifying potential issues in valuation early to avoid conflicts later.
Disaster Inspection Reports (DIR)
Disaster Inspection Reports assess the condition of properties affected by natural disasters like floods, hurricanes, or wildfires. These evaluations help:
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Insurance Claims: Providing accurate documentation of damages to streamline claims processes.
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Litigation: Offering credible evidence for legal disputes over damages.
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Recovery Planning: Assisting property owners in determining repair or rebuilding costs.
Operating Income Analysis
Operating Income Analysis evaluates the financial performance of income-generating properties, such as rental properties or commercial real estate. This service helps with:
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Investment Decisions: Providing insights into the profitability of a property.
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Tax Preparation: Assisting in accurately reporting income and expenses for tax filings.
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Valuation of Rental Properties: Establishing fair market value based on income potential, crucial for sales, acquisitions, or legal disputes.
SPECIAL APPRAISALS
Commercial Valutation Products
A Commercial real estate appraisal is a value assessment on an income-generating property that is performed by a certified general appraiser. Property valuation can be on any kind of commercial real estate, including office buildings, multifamily buildings, retail buildings, etc.
New Construction Appraisals
A new construction appraisal is an appraisal completed by examining the estimated value of the home using the home plans and specifications and comparing them to nearby comparable sales.
Private Money Appraisals
Private Money Appraisals are valuations prepared for loans funded by private or non-traditional lenders, such as individuals, private equity firms, or investment groups. These appraisals are tailored to meet the specific requirements of private money lenders, focusing on the property's current market value and potential investment risks.
Renovation Loan Appraisals
Renovation Loan Appraisals are property valuations designed for loans that fund home improvement or renovation projects. They estimate the current value of the property and its future value after the planned renovations are completed, helping lenders determine the loan amount based on the property's post-renovation potential.
Real Estate Owned Appraisals
Real Estate Owned (REO) Appraisals are valuations conducted on properties that a lender has taken ownership of through foreclosure. These appraisals assess the current market value of the property, often in its "as-is" condition, to help the lender determine an appropriate selling price or make decisions regarding its management and disposition.
Retrospective Appraisals
Retrospective Appraisals determine the value of a property as of a specific date in the past. These are often used for legal matters, such as estate settlements, divorce proceedings, or tax purposes, where the historical value of the property is required.
Reverse Mortgage Appraisals
Reverse Mortgage Appraisals evaluate a property's current market value to determine eligibility and loan amount for a reverse mortgage. These appraisals focus on the home's condition, location, and market trends to ensure it meets the requirements set by lenders and regulatory guidelines for reverse mortgage programs.
Review Appraisals
Review Appraisals are evaluations of an existing appraisal report to ensure its accuracy, reliability, and compliance with industry standards. They are conducted by a separate appraiser who assesses the original report, verifies the data, and may provide an opinion on whether the original value conclusion is supported. These appraisals help lenders make informed decisions and ensure quality control.
ALTERNATIVE VALUATIONS
Automated Valuation Model (AVM)
An Automated Valuation Model (AVM) is a data-driven software tool that analyzes real estate information, including comparable sales, property features, and market trends, to generate an up-to-date estimate of a property's market value. AVMs provide quick, cost-effective valuation estimates, commonly used by lenders for preliminary assessments, portfolio reviews, or low-risk transactions, though they lack the accuracy of an on-site appraisal.
Broker Price Opinion (BPO)
A Broker Price Opinion (BPO) is an estimate of a property's value provided by a licensed real estate broker or agent. It is based on factors such as market conditions, comparable sales, and the property's condition. BPOs are often used by lenders or investors as a cost-effective alternative to a full appraisal, typically for transactions like foreclosures, short sales, or refinancing evaluations.
Property Condition Report
A Property Condition Report (PCR) is a detailed assessment of a property's physical condition. It documents the state of key components such as the structure, roof, plumbing, electrical systems, and overall maintenance. PCRs are commonly used by lenders, buyers, or investors to evaluate a property's condition, often in conjunction with an appraisal or during real estate transactions.
Value + Inspection Report (HELOC)
A Value + Inspection Report (HELOC) is a hybrid report used for Home Equity Line of Credit (HELOC) purposes. It combines an assessment of the property's market value with an inspection of its condition. This report helps lenders evaluate the current value and state of the property to determine eligibility and credit limits for a HELOC.
APPRAISAL MODERNIZATION
ACE+ PDR
ACE+ PDR (Automated Collateral Evaluation Plus Property Data Report) is a streamlined valuation product combining an automated property valuation with a physical inspection of the property. It provides lenders with a fast and reliable estimate of market value along with data on the property’s condition, ensuring accuracy and compliance without requiring a traditional full appraisal.
Fannie/Freddie Desktop Appraisal
A Fannie/Freddie Desktop Appraisal is a property valuation method approved by Fannie Mae and Freddie Mac that allows appraisers to complete an appraisal without a physical property inspection. Instead, they rely on publicly available data, MLS listings, and other reliable sources to assess the property's value. This approach is used to streamline the appraisal process for certain loan types while maintaining compliance with agency guidelines.
Hybrid Appraisal
A Hybrid Appraisal is a valuation method that combines a desktop analysis performed by a licensed appraiser with property data collected by a third party, such as a real estate professional or inspector. This approach streamlines the appraisal process, providing a faster and more cost-effective alternative to traditional appraisals while still ensuring a reliable value estimate.
Value Acceptance + Property Data Report
The Value Acceptance + Property Data Report is a streamlined valuation solution where a property's value is accepted based on automated models, combined with a detailed property data report. The property data is collected by a trained professional and includes information about the condition, characteristics, and marketability of the property. This approach reduces the need for a full appraisal while ensuring accurate and reliable information for lenders.
COMMERCIAL VALUATION PRODUCTS
Commercial Appraisals
Commercial Appraisals are professional valuations of commercial properties, such as office buildings, retail centers, industrial facilities, and multi-family housing. These appraisals analyze factors like income potential, market conditions, property location, and comparable sales to determine the property's current market value. They are typically used for financing, investment analysis, property sales, or tax assessments.
Commercial Broker Price Opinion (BPO)
A Commercial Broker Price Opinion (BPO) is an estimate of a commercial property's value provided by a licensed real estate broker. It evaluates factors such as market trends, comparable sales, property condition, and income potential. Commercial BPOs are often used as a cost-effective alternative to full appraisals for purposes like financing decisions, property listings, or portfolio evaluations.
Commercial Sales Comparison Evaluation
A Commercial Sales Comparison Evaluation is a valuation method that determines the market value of a commercial property by analyzing recent sales of comparable properties in the same area. This approach considers factors such as property size, location, condition, and market trends. It is commonly used for financing, investment decisions, or pricing properties for sale.
HOMEOWNER VALUATIONS
Private Mortgage Insurance (PMI) Removal
PMI (Private Mortgage Insurance) Removal Appraisals are conducted to determine if a property's current market value has increased enough for the homeowner to have at least 20% equity, thereby meeting the criteria to cancel PMI. This type of appraisal provides an updated valuation that lenders require to evaluate whether the borrower qualifies for removing PMI from their loan.
Insurance Update
An Insurance Update Appraisal is conducted to provide an accurate valuation of a property for insurance purposes. It assesses the current replacement cost of the property, including materials, labor, and other factors, to ensure adequate coverage. This type of appraisal is commonly used to update or confirm insurance policies, especially after renovations or market changes.
Divorce Settlement
A Divorce Settlement Appraisal is a property valuation conducted to determine the fair market value of real estate during a divorce proceeding. It ensures an impartial and accurate assessment of the property's worth, helping facilitate the equitable division of assets between parties. This type of appraisal is often required by courts or attorneys to resolve property ownership disputes.
Estate Planning
An Estate Planning Appraisal is conducted to establish the fair market value of real estate for estate planning purposes. It is often used to help determine asset distribution, calculate potential tax liabilities, or assist in future financial planning. These appraisals provide an accurate and reliable property valuation to support the management and settlement of an estate.
Pre-Sale Appraisal
A Pre-Sale Appraisal is conducted for homeowners planning to sell their property and wanting to verify its current market value. This appraisal provides an accurate assessment of the property's worth based on market trends, comparable sales, and property condition, helping sellers set a competitive listing price and make informed decisions during the selling process.
Cash Purchase Appraisal
A Cash Purchase Appraisal is conducted for buyers planning to purchase a home with cash and seeking to verify its market value before finalizing the transaction. This appraisal ensures the buyer is making an informed decision by confirming the property's worth based on market conditions, comparable sales, and property condition, reducing the risk of overpaying.
Refinance Preparation
A Refinance Preparation Appraisal is conducted to determine a property's current market value before refinancing a mortgage. This appraisal helps homeowners and lenders assess if the property's value supports the desired loan amount and terms. It provides an accurate valuation, ensuring the refinance process proceeds smoothly and aligns with the lender's requirements.
General Knowledge
General Knowledge Appraisals are conducted for individuals or organizations simply seeking to understand the current market value of a property without any immediate transactional purpose. These appraisals provide a clear and professional valuation, which can be helpful for personal records, financial planning, or future decision-making regarding the property.