Do you work for a bank or other lender that finances home mortgages? Are you responsible for choosing appraisers to conduct home assessments before loans are finalized? If so, you may want to consider using an appraisal management company to handle that work. An appraisal management company works with a network of appraisers to distribute and delegate assignments. The company then provides you and all other interested parties with the information they need to move forward with the transaction. There are a lot of appraisal management companies out there, so it's important that you choose the right one for your needs. Here are a few things to look for in an appraisal management company:
Manual assignments. Some appraisal management companies will delegate assignments through a broadcast system. They put a job out to their network and whoever grabs it first gets the work. But that person might not be the right appraiser for your property. For instance, the property in question may have special features or characteristics that need an experienced eye. Or it could be a unique property that doesn't have a lot of relevant comparable properties nearby for the appraiser to rely upon.
The best appraisal management companies assign jobs manually. They match up the property with the appraiser whose experience and skills are most in line with the job. That way, you can be confident that you're getting the most accurate appraisal possible.
Easy access to information. Real estate transactions can move fast. Everyone involved, including your company, the buyers, sellers, and the realtors, will want to know the status of the appraisal as soon as possible. Some appraisal management companies have call centers where you can call in to get appraisal information and results. However, others take their service a step further. They may assign you with your case manager, so you always get up-to-date information from the same person. Or they could offer an online dashboard where you can get results and status updates in just a few clicks. Look for these advanced service features.
Appraiser approval. Finally, some appraisal management companies will also give you the ability to handpick your own roster of appraisers from their network. If you notice that the work of one particular appraiser seems consistently more accurate than others, you could give that appraiser a preference or an approval. That way, as many of your jobs as possible could go to that appraiser. You may be able to highlight a group of appraisers so you know your jobs always go to appraisers whom you have approved.
For more information, contact an appraisal management company in your lending area. They can discuss the features and services they offer that separate them from the crowd.
When I got my first credit card, I had no idea how to manage my money. I made a lot of mistakes that I later regretted and had to spend many years rebuilding my credit. I didn't realize that even one mistake can cause serious damage to your credit score. I did a lot of research into money management and credit repair options and put the effort in to rebuild my credit. This site is a compilation of the things that I've learned and the steps that worked for me. Hopefully the information here can help you to avoid some of the struggles that I faced.