Our Services
The issues lenders face in new construction is limited verifiable data provided by appraisers. In working with over 15 unique developments around Southern California, we have developed the New Construction Appraisal Package (NCAP) as a solution for the appraiser, builder and lender.
In 2013, we installed appraisal methods and techniques to prevent missed sales for new construction contracts. Since implementing these methods and strategies, we have developed content rich appraisal packages for our appraisers that assure all information necessary to write high quality appraisal reports, in turn mitigating low or poor appraisals.
We have developed new construction appraisal packages for over 15 different subdivisions in Southern California and the results have been astounding. Appraisers have reached out to us for these New Construction Appraisal Packages (NCAP), while sales offices thank us for alleviating the time and stress of dealing with appraisers.
SAVE TIME IN Your Sales Office
Save your sales staff over 240 hours per year.
Streamline the appraisal function in your sales offices.
Minimize sales staff adverse impact and maximize valuation results.
Improve sales staff and appraiser interaction.
REDUCE YOUR Liability Through:
Independently verified data.
Accurate data reporting.
Firewall eliminating misinformation.
Limited interaction between sales staff and appraisers.
SPEED UP the closings
Organized access and scheduling of appraisers.
Complete appraisal package with all information necessary for accurate appraisal development.
Cut the appraising reporting time by 50%.
Avoid reconsideration of value requests.
Eliminate low appraisals.
Stop poor appraisals from killing contracts.
Low appraisals cost builders 2.5%
on average in renegotiated contracts or concessions, and as much as 4.25% when the sale is lost as a result of low appraisals.
NAHB REPORTS
NAHB reports 58% of builders experience appraisals below sales contract.
NAHB also found 25% of builders lost home sales because the appraisal was less than the contract price.
THESE COSTS ARE AVOIDABLE 95% OF THE TIME,
if the appraiser has the necessary verified market and comparable data. Currently, financial analysts, and on-site sales staff create “appraiser packages” that are poorly developed, leaving the builder and appraiser wide open to liability. From this data, the appraiser is left to sift through the information, verify the information, and develop a report that is USPAP compliant and conforms with Fannie Mae, FHA, VA or private investor guidelines. This is a tedious undertaking, which is why appraisers generally avoid new construction appraisals. This is a broken process that had to be addressed for the builder and appraiser.