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At Milhizer and Associates we understand the need for a preliminary value estimate. Unfortunately, as licensed appraisers any value estimate we give, including a range of value, is considered an "appraisal" under the Uniform of Professional Appraisal Practice (USPAP). That means a complete USPAP compliant work file for a "Comp Check" - 1 to 2 hours of our efforts, for that 60 seconds of phone time discussing a particular property's value with you!
That's a common question that is 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".
Milhizer and Associates prepares all appraisals in compliance with USPAP and the State of Michigan Appraisal Licensing laws. This protects you, us, and the property owners. Yes, every profession has inexperienced or unethical members that are willing to do just about anything for a buck. The FBI, FannieMae, The Appraisal Institute, along with a number of professional organizations are doing what they can to crack down on illegal and unethical appraisal practices. An alternate solution for you might be to utilize the free home valuation service provided by Zillow (a third party provider). Bear in mind however, even the best appraisers cannot arrive at a reasonable real estate value without extensive research and analysis, which takes time. Any property valuation, including computer generated values such as Zillow.com, that are completed without an actual property visit cannot account for subjective items that effect the value of real estate such as; locations, views, interior updates/features, and/or the condition of the subject property being appraised. The service above is a link to a third-party service and Web Site Milhizer and Associates does not endorse, and takes no responsibility for this service |
That may appear to be true on the front-end, but those "searches" back-up appraisal production on the back-end (causing delays in appraisal delivery) and generally it's expected that the appraiser will not be compensated for THEIR time!. Also . . 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?