With every order, we provide a ‘comp check’ or ‘value check’ to our client’s so that they can make informed decisions for their client’s. Many times, their client has seen a house in their neighborhood listed for sale for a very large number and they assume that their house is worth that amount as well. Unfortunately there is no restriction on how much a house can be listed for, often resulting in confused borrowers and often times appraisals that do not help with the loan sought or needed.
Although it may lose us appraisal engagements in the short term, it is our philosophy, and belief, that it will earn us long term relationships and appraisal reports in the future.