Did
you know? For nearly all financing
appraisals, the appraiser is NOT working for the homeowner!
The appraiser is a client of the ordering entity or mortgage
professional/lender. Even though you may be paying for the
appraisal report, the appraiser is really providing a value
for the lender to base a financing decision.
In the
past, many mortgage professionals would contact an appraiser
for a "precomp" or preliminary value based on
basic property information and neighborhood sales activity.
The Appraisal Foundation has stated that the practice of
"precomping" should not be completed by a certified
appraiser. Ohio Senate Bill 185 has made it against the
law to pressure or influence an appraiser. These safeguards
were put into place to keep the appraiser unbiased. However,
there is a downside for the homeowner. Now that your mortgage
professional is less likely to ask for a precomp and the
appraiser is less likely to succumb to lender pressure,
more and more homeowners are paying for appraisals that
do not meet their financing needs.
IndependenceData.com
has an answer to this dilemma.
In addition
to a Property Report,
as detailed above, IndependenceData.com can also provide
you with a telephone or Internet chat consultation to review
the information contained within the Property Report. By
doing this, IndependenceData.com is working for YOU,
the homeowner. We are not appraising your home, but assisting
you prior to your refinance appraisal. We will assist you
in finding the home sales which are most similar to your
home. You can then provide these sales to your mortgage
professional and appraiser, showing the professionals that
you have a lot of the same information as they do. Knowing
your neighborhood will save you time and money in the refinancing
process.
If you
are interested in our consultation services, complete the
Property Report Order Form
and select the Consulting options at the bottom. - Ask
us about our $50 Consultation Package -
