Frequently asked questions:
     ■ What is a 'Comp Check'?
     ■ Why is payment required prior to the completion of the appraisal report?
     ■ I need an appraisal, but I only want to pay for it if it is going to enable a loan for my
         customer / myself.  If you tell me that you can make that value, I will order the
         appraisal.  Can you do this?
     ■ How is the value of the appraisal report determined?
     ■ What should I do to prepare for an appraisal inspection?
     ■ May I have a copy of the report?
     ■ A competitor is advertising a lower appraisal fee.  Why should I order from you
        instead of them?

Follow up sections/questions:
     ■ Case Study
     ■ Examples of Appraisers to Avoid
     ■ ...but if they make the value, why do I care if the report is "sub-standard"?
     ■ Does this mean that Cwift Appraisal is conservative in their research and analysis?
     ■ Ok then, how do I pick the "right" appraiser?

Let us first say that, this situation rarely happens as our rates are very competitive and the value of our service is unmatched.  Otherwise, price shopping is great for tangible and identical items such as a certain model DVD player.  An appraiser on the other hand is a profession and we provide a professional service - like a Doctor or a Lawyer.  Now, we're not saying the typical residential appraiser has anywhere near the credentials or esteem of a Doctor or Lawyer but choosing either of those based on price is not advisable because they definitely are not all the same.  It doesn't make sense to choose a brain surgeon because they are the cheapest, or the lowest priced attorney should a family member be accused of a crime they didn't commit.

Case Study
We recently  appraised a property that had an oversized swimming pool and spa complete with boulders, natural stone accents, and a waterfall, extensive, expensive, and lush landscaping, large stamped patio concrete areas, and 3 free standing patio covers.  A previous appraiser considered this property's feature quality to be 'Average' and equal to other properties that had simple swimming pools, spas, and concrete decking.  The appraiser was not diligent about their research and produced a value opinion that did not accurately reflect the housing market.  Our research revealed that there was another sale with similar feature quality that indicated a higher value opinion.  Including the property required the use of a comparable property that was outside of the typical guidelines for appraisals properties, but we provided a detailed explanation for our use of the property, supporting analysis for its use, and included a detailed explanation and additional photographs that the lender understood and accepted.

Whether the appraiser was lazy or inexperienced, we do not know. But they did not 'think outside of the box' and produced a sub-standard appraisal.

When choosing an appraiser, there is a myriad of variables between a good, competent, and professional appraiser and one that that is not.  It is important to select the one that will spend the time and has the capability to research and analyze all of the available data, who will speak and work with you, who does not utilize less knowledgeable trainee appraisers or support staff to inspect properties and complete reports.

Examples of Appraisers to Avoid
There are appraisers out there that will charge an under-market $250 appraisal fee to capture business and limit themselves 2-3 hours of time to complete the report to maximize their profit.  2-3 hours is simply not sufficient for the vast majority of appraisal reports.  At Cwift Appraisal, for $350 we take as long as is necessary to properly develop and support our opinion of value.  Where some appraisers may charge $250 for 2-3 hours we typically charge $350 for 7 hours or more.

There are also appraisal 'sweat-shops' out there that employ large numbers of trainee appraisers.  These organizations allow trainee appraisers to collect their own business and then the shops sign off on their reports.  The trainees receive a small percentage of the appraisal fee which encourages under-experienced trainees to spend less time to make ends meet.

...but if they make the value, why do I care if the report is "sub-standard"?
In the recent past, the appraisals produced by these organizations were satisfactory to most lenders because the market was rapidly appreciating and the emphasis on the features, quality, and condition of the property was much less than it is today.  Any discrepancies in the report could typically be compensated for as property values rose.

Now, lenders are far more concerned about the details of the property they are lending on and scrutinize appraisal reports.  Appraisals from the bargain-bin appraisers and the sweat-shops are now routinely rejected because of their quality which costs lenders and borrowers time and money, and sometimes can cost the borrower their house.  We commonly receive receive orders that follow one of these appraisals and can help set things strait.

Does this mean that Cwift Appraisal is conservative in their research and analysis?
Not at all.  Our research and analysis is conducted diligently and our reports contain solid evidence with arguments presented in a format that is easy to understand so that there are fewer problems with underwriters or anyone else that scrutinizes the report.  Please read the case study above for a detailed example.

Ok then, how do I pick the "right" appraiser?
We would like to say that the selection is simple, pick Cwift Appraisal!  While we believe this to be true, it is important that the person ordering the appraisal do their own research.  Some things to consider when choosing an appraiser include:

• Do they communicate clearly and are they able to provide understandable explanations for the terms they are using that you do not understand? If so, they will also likely be able to do so on the appraisal report.
• Are they readily available when you call?  If they are not available, do they call back within an hour?  If they are attentive now, there is a good chance they will be attentive during the process and after the delivery of the report.  If they are slow to respond while trying to earn your business, how much worse will it be after they already have it?
• Do they have a professional demeanor?  Appraisal qualifications are becoming more stringent in the coming year but up till now it has been a relatively easy, though time consuming, process to become an appraiser.  Someone that knows what it means to be in business in the long term will understand the property way to assist customers, both in communicating with them and in the report they deliver.
• Do they sound trustworthy when speaking with them? This is a little hard to judge but you can look for contradictions in their appraiser-speak for starters.  If they assure you of a value before taking an assignment - beware - you may be speaking to an appraiser that will say anything to get your business!