Independent origination appraisals help you understand risk and meet compliance objectives. Service 1st has a strong, national base of experienced, competent appraisers who provide market and product expertise on each specific commercial property category. From order assignment to in-house quality assurance review to final report delivery, you can be confident your Service 1st valuation products meet specific account, product and industry compliant requirements. We are fully compliant with all state, federal, and inter-agency regulations and guidelines.
Conventional appraisals typically focus on the value of the home or property being appraised and reach a value opinion based upon the common comparable sales method.
Because the FHA insures a mortgage on behalf of a lender’s FHA-approved borrower, appraisals are required to address specific factors. Other than ensuring the value of properties purchased with FHA-insured mortgages, the FHA also requires confirmation that the homes and properties are safe and secure.
Manufactured Home Appraisals
Appraisals for manufactured homes must meet the definitions, physical requirements, marketability, location and comparable sales criteria and standards set forth by Fannie Mae. The criteria apply either to conventional mobile homes or to prefabricated or modular homes.
Land appraisals factor a number of carefully-considered characteristics associated to the value of a prospective property in order to deliver an accurate, confident result, including zoning, inventory, comparables, desirability, holding costs, road access, size and dimensions, it’s remoteness, adjoining properties, and flood zone.
Drive-by appraisals establish estimated value through exterior inspections, primarily for informational purposes such as documenting comparable listings.
2-4 Unit Multi-Family Appraisals
These appraisals can be the most varied and complicated commercial property types due to variances in amenities, class, style, size, location and more. A multi-unit property is based on an “income approach” to reach the value of the property by determining the fair market rent of each unit size based on comparable rents to other properties.
Small Commercial Appraisals
Commercial appraisals include research into public ownership and zoning records, investigate demographic and lifestyle information, plus compile comparable sales, replacement costs, and rentals. This data is then analyzed in relation to the value of the property.
In a world where the appraisal is a commodity, Service 1st has separated themselves from the pack with how much they care. The partnership is a two-way street.