Work With Appraisers Who Stand Out
BY MICHAEL DRESDEN, PRESIDENT, DART APPRAISAL
This article originally appeared in Scotsman Guide,
Much of an appraiser's work is done for conventional,
single-family home loans. Every now and then, however, something
considered unusual comes along. Maybe it's a vacant lot. Maybe it's
a modular or manufactured home. Maybe it's a high-end or otherwise
When it's time for a loan for a property that's not just like
the others, it's vital to have a relationship with an appraisal
management company (AMC) that, similarly, is not like the others.
The appraisers should be able to step outside the cookie-cutter
mold to best evaluate these unique properties, and to give their
originators and lenders some peace of mind.
Residential mortgage lending relationships, like those between
an originator and an AMC, are predicated on producing quality
results. Because they are part of a larger financial transaction,
the appraisal work and end product must be timely, accurate,
cost-effective and satisfy all regulatory and institutional
When it comes to specialized appraisals, the overriding goal of
AMCs and the appraisers they work with should be to bring the same
transaction certainty and overall efficiencies as they seek to
attain with any other residential assignment. The fundamental
components of a residential appraisal are land at a specific
location, plus the structure.
the full article here.