Relocation appraisals are far more complex than typical residential appraisals that are used for refinancing purposes or mortgage financing in connection with a sale. This is because the appraised valuation derived from a relocation appraisal is tested in the market, since the appraised property is eventually listed for sale based upon the results of the appraisal. In refinancing or sale related appraisals, the valuation is used only to certify an existing sale price or to justify a particular mortgage amount requested in a refinance.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
Shouldn't I select the appraisal firm that's closest to my home?
Not necessarily since all appraisers cover a wide geographic area and each is probably already familiar with the location of your home. It is far more important to select an appraisal company that has a proven reputation in relocation appraising. This is critical since mortgage and refinance appraisers are not accustomed to the more detailed level of research necessary to estimate market value when the value conclusion is to be tested in the marketplace. Furthermore, the concluded value in a relocation appraisal assignment represents the equity position of the property owner; this is far more critical than certifying a sale price or justifying a refinance mortgage amount.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
What are some of the questions I should ask a prospective relocation appraiser?
It is important to know what percentage of time the appraiser typically spends completing relocation appraisals assignments, as opposed to mortgage or refinancing related work. Certainly, a relocation specialist is desired due to the greater complexity of relocation valuations. It is also important to know how long the appraiser has been in the real estate appraisal profession and what properties he or she has valued in your neighborhood.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
What should I do if B&Co is not included on the list of approved appraisers submitted to me by my relocation company?
Often times, relocation appraiser lists are incomplete and don't include all the appraisers approved by the particular relocation company. Recognizing that B&Co has been performing relocation appraisals since 1978, we have been selected for over 25 years by every relocation company operating in suburban Philadelphia. If for some reason our firm name was inadvertently missed on the list of approved appraisers provided to you, contact your relocation coordinator and request that we be added to the list. We would be happy to provide any information to your coordinator to facilitate this process and provide you with the best relocation appraisal services possible.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
What are some of the items of information I should provide to B&Co during the appraisal process?
In order to arrive at the correct valuation of your home, it is critical that information is provided regarding any improvements made to the home subsequent to its purchase. It is also important to know what the optional features were purchased with the home if it was newly constructed at acquisition. Additionally, a list of personal property that is to be included with the sale is also helpful. (i.e. washer, dryer, refrigerator and window treatments) Due to our extensive knowledge in this area, B&Co can provide guidance regarding the decision-making process in this regard.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
How long will it take to inspect my home?
Typically, a relocation appraisal inspection takes about one hour which includes the initial interview, the physical inspection of the dwelling, creating a floor plan diagram, measuring and photographing. This, however, is only the beginning of the process since the research and analysis phases of the appraisal process take many hours of study.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
How long does it take to complete the appraisal and how soon will I receive the valuation from the relocation company?
Once each of the two appraised valuations are transmitted verbally and the written reports are then received by the relocation company, there may be questions or discrepancies that must be reconciled by the relocation coordinator prior to communicating the valuation to the property owner. Therefore, while it may only require several days or a week to complete the appraisal, the timetable for your receipt of the valuation is determined by the relocation company.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
How can I learn about the number of appraisal assignments B&Co has completed in my neighborhood?
A telephone interview with the appraiser which is always encouraged. This will also be an opportune time to learn more about the various appraisal procedures that will be used in valuing your home, and about the extent to which the appraiser will interview knowledgeable market participants in order to verify sales and uncover market trends. This is critical to an accurate valuation and is one of B&Co's specialties.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
Will B&Co provide me with a copy of the relocation appraisal report?
We are required to submit multiple copies of the appraisal report to the relocation company. Since they are technically the client in regard to the assignment, they control the dissemination of the report copies. Therefore, the appraiser is not permitted to release copies of the appraisal without the client's permission.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
If I disagree with, or don't understand the valuation of my home, what are my alternatives?
B&Co's sole purpose in the appraisal effort is to arrive at the appropriate valuation in conformance with the market and the constraints of the assignment. Therefore, if you feel that there is additional information that should be considered in the appraisal, we are most willing to consider it on your behalf. Relocation appraisal companies have specified procedures for appealing appraised valuations and providing supplemental data. Therefore, any questions or additional data should be directed to the relocation company first. This data is then submitted to us via your contact at the relocation company.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
Should I provide a list of comparable sales to B&Co to assist in the valuation of my home?
Yes. B&Co considers property owners to be expert in the values of their homes. Therefore, we encourage property owners to provide any pertinent information regarding sales in the neighborhood that we should either consider or avoid, and the reasoning behind the recommendation.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
Is it necessary for me to be at my home when it is inspected in connection with the appraisal process?
Not necessarily. B&Co maintains membership in local Realtor Multiple Listing Services. Therefore, like sales agents, we are permitted to enter homes listed on the market by using computer securitized key lock systems. Therefore, to expedite the appraisal process, we can perform our inspection in the absence of the property owner. In this event, we can conduct the necessary interview process by telephone either before or after the property inspection without compromising the appraisal effort.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.
How do I set up my inspection appointment with B&Co?
When a relocation company or in-house relocation program is involved in the appraisal process, you must communicate your selection of B&Co directly to your relocation coordinator. This allows us to obtain appraisal assignment authorization, file numbers, contact information and assignment constraints first. Once we have received the necessary information and authorization from the relocation company, we will contact you for the inspection appointment.
Please Contact Us to obtain telephone numbers or our email address so that we may service you regarding your relocation appraisal needs.