Some Do’s and Dont’s When It Comes to Appraisal Forms
You must give your employees the tools they need to succeed and to be knowledgeable about this industry. Educating employees and coworkers on the “do’s and don’ts” of appraisal forms will help all of us in the long run.
Provide staff with a list that articulates what is appropriate or not when speaking with an AMC and what information is allowed to be passed along from the AMC to the appraiser.
Last week I received an order with a note asking if I could please send a particular appraiser. This is against the rules; you cannot request a certain appraiser.
You may not ask who is doing the appraisal, even after we sign off on it. The soonest you can receive this information is when we deliver the report.
Do not include your property estimate. If you put a value estimate on the form I cannot send the form into the appraiser. None of us are supposed to know what the lenders think the property value is. This rule also applies to rebuttal forms.
Request a rush order before the report is ordered. For an additional fee we will decide, based on your needs and the urgency of the request, which appraiser will handle the job. If it must be completed ASAP I will identify which appraiser is close to the property and call them personally to ask if they are able to make your deadline.
Putting pressure on the appraiser to finish the report is another problem we have been facing lately. The appraiser needs appropriate time to complete the report and to put pressure on him or her to finish is neither productive nor ethical.
Continuing education classes are always a great way to ensure that everyone on staff is knowledgeable about changes in the business.
Though much of this may seem like common sense, I think we all can benefit from a little refresher. If you have any other questions please check the HVCC.