When it comes to real estate appraisals, most lenders look for three qualities in an appraisal company: accuracy, communication, and turn times. Accuracy and communication are largely the responsibilities of the appraiser—other than hiring an appraisal company with a proven track record of quality and customer service, as a lender, there isn’t much you can do to improve either of those metrics. However, there are a few ways you can contribute to a faster appraisal turn time.
In real estate appraisals, turn time refers to the amount of time it takes for an appraisal to be completed, reviewed and certified. In terms of what you can do as a lender to support your appraiser in achieving the fastest possible turn time, here are three tips:

1. Provide comprehensive and accurate information about the property.

A simple mistake, like being one number off on the street address, can hold up the appraisal process. Barring simple mistakes, if you are able to provide your appraiser with tax parcel numbers or a plat map number, that information is always welcomed and appreciated.

2. Let your appraiser know about unique details that make the property special.

If the property has been recently renovated, for example, or whether it has a history of flooding. Your appraiser will, of course, find out this information on their own, but being abreast of it at the start of the appraisal can speed up the entire process.

3. Communicate with the occupants of the property.

Many homeowners assume that they need to clean their house spotless before the appraiser comes, mistakenly believing that a tidy, shining home will lead to a higher appraisal. This assumption leads many homeowners to delay their appointments until they have time to primp and polish. As their lender, letting the homeowners know that (a.) the appraiser is someone you trust (b.) what they can expect from the appraisal process and (c.) what they should and should not do prior to the appraisal.

At Appraisals Unlimited, we go above and beyond to ensure the fastest possible turn times:

»  As soon as you order an appraisal, we immediately assign the project to one of our local appraisers.

» Our appraisers clearly communicate with all involved parties—buyers, agents, borrowers, etc.—to proactively prevent hiccups in the appraisal process.

» We gather all necessary documentation prior to the appraisal appointment. Missing documentation is the #1 cause of delays in the appraisal process.

We have earned a sterling reputation as one of the most trusted appraisal companies in the Northeast, not just because of our fast turn times, but because we offer personalized customer services, expanded office hours, and a large team of highly experienced appraisers with vast local knowledge.

If you are in need of quality appraisals, delivered quickly…contact us today, or order an appraisal online.