Desktop Appraisals or Comp Checks?

"Do you do comp checks?"

That is a common question asked of appraisers every day. Lenders and borrowers don't want to waste their time and money on loans that won't "appraise out". Comp Searches (pre-appraisal market value opinions) may also seem like "good customer service". A quick "comp check" may miss the jewel in the neighborhood that is worth more than the average comparable nearby. Or the subject itself could have special features not covered on public records. All this would be missed until the property is inspected. So, what seems like "good customer service" may unfairly cause the loss of a loan for both the lending agency and the borrower.

However, did you know that checking "comps" and providing an "estimate" of a home's value prior to receiving the appraisal order MAY put the appraiser in violation of the Uniform Standards of Professional Appraisal Practice (USPAP) and jeopardize their state license?  

Hester Appraisals & Consulting prepares all appraisals in compliance with USPAP and Georgia State Appraisal Licensing laws.  This protects you, us, and the property owners.  USPAP Advisory Opinion 19  provides some excellent examples and references on this and other  "Unacceptable Appraisal Assignment Conditions" .   

So What Do I Do Now?

Hester Appraisals & Consulting can provide you with a Desktop Appraisal. However, this does not meet Fannie Mae or most other conventional mortgage underwriting guidelines. It does provide and accurate range of value and meets USPAP requirements.

We regularly prepare this type of report for various clients. You can make this a part of your lending strategy, too. This report is far more accurate than any Automated Valuation Model (AVM).

The fee for this report is $100 each; prepaid. The report is in a brief narrative format that will be delivered as a PDF attachment via email response. This product can be ordered from our order page.

On the surface, this may appear to be the same thing as a comp check, yet it is VERY different. With a Desktop Appraisal, you may supply us with the property information requested below, and we can prepare a limited/restricted appraisal based on available public records and area sales.

This is typically not as accurate as an appraisal that includes a full inspection of the subject property, yet it can serve to guide the client with regards to market trends and area sales, while providing protection to us as the appraiser. 

For Instant, Free estimates, you may also try:

https://www.realestateabc.com/

https://www.zillow.com/

https://realestate.yahoo.com/

https://www.housevalues.com/

https://www.homegain.com/home_prices/index