Frequently Asked Questions
We already use a different appraisal management company, why should we switch?
Typically clients move to Appraisal Valet because they are tired of poor communication, the use of geographically incompetent appraisers, lack of comprehensive quality control practices, complaints by borrowers, and calls from appraisers who are unfairly paid. By simply switching to Appraisal Valet now, you can avoid these headaches.
What should my borrower do to prepare for inspection?
Please advise your home owners to work with the appraiser to make the home available as soon as possible to avoid any delay. Appraisers typically appreciate a brief tour of the home as well a list of any recent improvements made to the home. The appraiser will need access into all rooms of the dwelling. In addition, access to the attic and crawlspace is required for FHA and USDA financing. Otherwise, no special preparation is required.
What kind of turn time can we expect for delivery of the report?
Appraisal turn-times of 4 to 5 business days are standardized for typical properties suburban regions. Complex assignments or those in remote regions often have longer turn times. Our staff will give you precise expectations when ordering appraisals. Rush requests are available.
Do you cover all areas?
Appraisal Valet serves is networked with thousands of appraisers and is licensed in OR, WA, ID, CA and NV.
Can you also handle FHA loans?
Yes, we manage FHA appraisal assignments on a daily basis. Please keep in mind that the appraiser must have an FHA case number in order to inspect the subject property. While FHA orders may be placed on-line with Appraisal Valet without a case number, our turn-time begins when we receive the FHA case number.
Can we order title through Appraisal Valet like some AMCs offer?
Appraisal Valet specializes in the management of appraisal products including appraisals, reviews, and alternative valuation products. Our lender clients appreciate that fact that we do not cross sell title products or other mortgage related products. If you are in need of title services, we’ll gladly recommend those that specialize in title services!
What is your capacity to take on a substantial number of new orders?
Our extensive network of appraisers, on-site team of staff members, and our scalable quality control system is willing and eager to manage any volume of appraisal orders you may have.
If a loan transitions from conforming to FHA after the original appraisal is completed, is a second full fee appraisal required?
If Appraisal Valet managed for the first assignment for the same client and the report was not used for financing, the same appraiser can be used and the cost of the second service will be only a fraction of the initial appraisal fee.
If we have a valid value dispute or question, what is your solution?
Our policies and procedures provide for a formal dispute resolution process that is managed by one of our in-house appraisers. Please contact us by phone or email to receive a dispute resolution fillable .pdf file.
As an Appraisal Management Company, do you charge more for an appraisal than if we order directly from the appraiser?
The total fee for appraisal including our professional management service is very comparable to a fee you’d be quoted directly from an appraiser. When considering the benefit and time saved by not dealing with the hassle of locating, qualifying, managing, and paying the appraiser, it is a cost savings to our clients.
Do you send local appraisers to complete assignments?
Appraisal Valet specializes in intelligent assigning. Appraisers love the fact that they are assigned work typically within a few miles of their office.
Is it faster to go directly to the appraiser to order?
No. Our on-line ordering system places appraisal requests electronically with appraisers on the same day the order was placed. We are able to accommodate just about any due date request. You will find that our service is a time saver and faster than if you were to independently manage the assignment.
How do you select an Appraiser
When assigning appraisers to specific appraisal orders, Appraisal Valet incorporates an unparalleled blend of GPS-assisted technology, human common sense, geographical competency, and appraiser performance scores to find the right fit.
Some appraisers specialize in appraising in market areas where they do not reside. With that being said, the typical borrower casts doubt on the validity of an appraisal if the appraiser’s office is too distant from their property. At Appraisal Valet, we realize that perception is reality.
We are fully committed to utilizing appraisers who reside in the same communities in which they work. Our in-house policies require assignors to obtain management approval before exceeding generally accepted guidelines. By selecting appraisers who are highly experienced local experts, we remove the question of geographical competency from the equation.
GPS based technology
Our assigners utilize GPS based technology to determine the distance of each approved appraiser from the subject property. Proximity from the subject property is one of the key components taken into consideration when assigning appraisals in order to assure geographical competency.