Let our highly trained and qualified quality control team facilitate resolution of any appraisal dispute you may encounter.
Appraisal Valet policies and procedures allow our clients the right of managed Dispute Resolution. These requests are sometimes originated by the owner of the property and redirected to the lender for approval. A formal Dispute Resolution request is initiated when the findings of an appraisal are disputed based on (a) factual/material errors in the report or (b) market data not considered in the original appraisal. Dispute Resolution requests are managed by a licensed in-house appraiser to assure your complaint is fully communicated and well articulated.
In order to invoke this process, the client must either complete an Appraisal Valet Dispute Resolution form or present factual/material error(s) or market data to be considered to the Appraisal Valet quality assurance department. If the dispute is based on sales data, the data must be concise. The Appraisal Valet quality assurance department retains the right to screen all data for relevancy in order to determine its worthiness of presentation to the appraiser who completed the original assignment. Assuming the dispute is found to be relevant, the Appraisal Valet will present the appraiser with a formal request for ‘Dispute Resolution’. Once the appraiser has considered the dispute, he/she will respond to Appraisal Valet by uploading an amended appraisal or rebuttal letter.
Appraisal Valet instructs its appraisers to be open to all reconsideration requests while remaining unbiased and uninfluenced. The appraiser’s professional and timely response to a Dispute Resolution Request is critical. Some state agencies are requiring that results of a Dispute Resolution be returned within specific time frames; removal of an appraiser’s Appraisal Valet approval status may result if an appraiser does not respond to a Dispute in a timely manner.