What Happens After You Click ‘Order Appraisal’? The AAA AMC Process in 8 Easy Steps

As a loan officer or lender, understanding the steps that follow after placing an appraisal order is crucial for ensuring smooth transactions and successful closings. Working with an Appraisal Management Company (AMC) like AAA AMC can streamline this process significantly. Here’s a detailed look at the eight key steps in our appraisal process and how they can benefit you and your borrowers. 

1. Confirming Program Requirements 

The appraisal process begins with confirming all program requirements and compliance standards. This step ensures that your file is clean and complete from the start, minimizing the risk of delays later. We verify that all necessary documentation is in place, setting the stage for a smooth appraisal experience. 

Why It Matters 

Compliance is essential in real estate transactions. By confirming requirements upfront, you reduce the likelihood of complications that could arise later. A clean file means fewer headaches for you and your clients, allowing you to focus on moving the loan forward. 

2. Matching with the Right Appraiser 

Once we confirm your program requirements, we match your request with a qualified appraiser. At AAA AMC, we prioritize finding a licensed appraiser who is geographically competent and specializes in the type of property you are dealing with. This careful selection ensures that your appraisal is handled by someone with the right expertise. 

The Importance of Expertise 

Choosing the right appraiser can significantly affect the accuracy and timeliness of the appraisal. An appraiser familiar with the local market can provide insights that an out-of-area appraiser may miss, ultimately leading to a more favorable outcome for your clients. 

3. Coordinating Access 

Scheduling access for the appraiser can often be a logistical challenge. We take the hassle out of this step by coordinating access with borrowers or agents directly. During this phase, we gather all key details upfront, including property specifics and any unique circumstances that may affect the appraisal. 

Benefits of Coordination 

By managing the scheduling process, we save you time and reduce the stress associated with coordinating with multiple parties. This proactive approach ensures that the appraisal can proceed without delays. 

4. Property Inspection 

After access is confirmed, the appraiser visits the property for inspection. During this step, the appraiser reviews data from multiple listing services (MLS) and public records before inspecting the property itself. This thorough examination is crucial for determining the property's value. 

Comprehensive Evaluation 

The inspection helps the appraiser assess the property’s condition and features accurately. This meticulous process is essential for ensuring a reliable valuation, which ultimately benefits you and your clients. 

5. Draft Report Compilation 

Once the inspection is complete, the appraiser compiles a draft report that includes various valuation approaches, sales, cost, or income, along with supporting materials like photos and maps. This draft serves as a preliminary overview of the property’s value. 

Importance of Transparency 

A detailed draft report enhances transparency, allowing you and your clients to understand how the appraiser arrived at their conclusions. This clarity can help address questions or concerns, further building trust in the process. 

6. Quality Checks 

At AAA AMC, we prioritize quality. We perform rigorous automated checks and human quality reviews to ensure that any issues are resolved before you see the report. This multi-layered approach guarantees that the final product is accurate and meets our high standards. 

Why Quality Assurance Matters 

Quality checks are vital for maintaining the integrity of the appraisal process. Errors can lead to complications and delays, so we take every precaution to ensure that the report you receive is both reliable and precise. 

7. Final Report Delivery 

Once all checks are complete, we deliver the final report directly to your Loan Origination System (LOS) and upload it to the necessary portals. This seamless delivery process ensures that you have immediate access to the information you need to proceed. 

Keeping You Informed 

Timely report delivery helps you stay informed and ready to take the next steps in the loan process. Effective communication is key to maintaining a smooth workflow. 

8. Quick Revisions and Updates 

In the event that you need a revision or a Reconsideration of Value (ROV), we’re here to assist. Our team manages these requests quickly and keeps you updated throughout the process. We understand that timely revisions can be crucial for closing deals. 

What Happens After You Click ‘Order Appraisal’? The AAA AMC Process in 8 Easy Steps

Our dedication to customer service doesn’t end with the report delivery. We are committed to providing ongoing support, ensuring that you have everything you need to serve your clients effectively. 

Understanding the appraisal process is essential for loan officers to manage expectations and avoid delays. By knowing the steps involved, from confirming requirements to final report delivery, you can navigate the appraisal landscape more effectively. At AAA AMC, we pride ourselves on being a trusted partner for lenders and loan officers. Our commitment to compliance, transparency, and communication ensures reliable valuations and successful transactions. 

Ready to simplify your appraisal process? Contact AAA AMC today and partner with an appraisal management company you can trust. When everyone understands the process, everyone wins!