Appraisal Services for Field Professionals: For years, mortgage lenders and real estate brokers have trusted Heritage Services, Inc. to provide high-quality value estimates for various types of real estate properties. Through our dedication to analyzing local real estate trends and staying updated on valuation techniques via accredited courses and current trends, we consistently deliver reliable home valuations.
Homeowner Appraisal Services: Homeowners require appraisals or appraisal reviews for various purposes, such as mortgage refinancing, home equity loans, pre-listing services, and PMI removal. When you choose to order an appraisal or review from us, you can rely on a higher level of professional service, courtesy, and quality.
Field and Desktop Appraisal Reviews: Have you recently received a copy of your appraisal and wish to have it professionally double-checked for accuracy? Or perhaps you’d like a second opinion without the expense and delay of waiting for a completely new appraisal? We’re here to assist you with professional, unbiased, and ethical appraisal reviews, providing neutral judgment.
Desk Reviews (no site visit, faster turnaround time): If you’re in a hurry and just need to double-check the facts, we’ve got you covered. Our extensive Internet research capabilities and access to office and other database files enable us to deliver appraisal reviews with a high degree of precision.
Field Reviews: We meticulously review your appraisal for accuracy and conduct thorough exterior ‘field inspections’ of the subject property and comparable properties to ensure maximum appraisal certainty. Our services are perfect for any situation requiring a second opinion on value.
Exterior Roadside-only Appraisal: An exterior roadside-only appraisal is a type of property appraisal where the appraiser assesses the exterior of the property from the roadside without conducting a full interior inspection. This type of appraisal is typically used when access to the interior of the property is limited or when the client specifically requests a more limited assessment. While exterior roadside-only appraisals can provide some insight into the property’s condition and value, they may not be as comprehensive as appraisals that include a full interior inspection. Therefore, they are often used in situations where a quick assessment is needed or when access to the interior is restricted.
Desktop Appraisal (no site visit, faster turnaround time): Again, if you’re in a hurry and just want the facts, we’ve got you covered. A desktop appraisal is an appraisal that is conducted without an appraiser physically inspecting the property. Instead, the appraiser relies on available data, such as property records, photographs, and comparable sales, to arrive at the property’s value opinion. These types of appraisals are typically used when a physical inspection is not feasible or necessary, such as for refinancing, home equity loans, or portfolio valuation. While desktop appraisals can provide a convenient and cost-effective alternative, they may not be as accurate as appraisals that include a physical inspection of the property.
Hybrid Appraisal: A hybrid appraisal is a type of property valuation that combines elements of both traditional appraisals and other valuation models. In a hybrid appraisal, the appraiser (or a third party) typically conducts an exterior inspection of the property to assess its condition and exterior features. However, instead of a full interior inspection, the appraiser may rely on data provided by third parties or through online sources to supplement the valuation process. This approach allows for a more efficient appraisal process, particularly in situations where access to the interior of the property may be limited or when a faster turnaround time is required. Hybrid appraisals aim to provide a balance between accuracy and efficiency while still meeting the requirements of lenders and other stakeholders.
Retrospective Appraisal: A retrospective appraisal is a valuation of a property as of a specific date in the past. This type of appraisal is typically conducted for various reasons, such as estate planning, taxation purposes, legal matters, or historical research. The appraiser analyzes historical data, market conditions, and other relevant factors to determine the property’s value as of the specified date. Retrospective appraisals aim to provide an accurate reflection of the property’s worth at a particular point in time, even if it differs from its current value. These appraisals require careful research and analysis to ensure accuracy and may involve accessing historical records and market data.
REO and Foreclosure Appraisals: Properties in foreclosure and those that have reverted to the lender’s possession present unique appraisal challenges.
As a real estate or mortgage professional, you’re likely aware of the importance of distinguishing between market value and a quick-disposition value when dealing with a home in foreclosure. Heritage Services, Inc. possesses extensive experience in providing market value snapshots for our clients, along with “quick sale” forecasts that take into account your time constraints.
In this situation, the three values you may want to understand and compare are: as-is market value, as-repaired market value, and quick-disposition value.
“As-is” value: The possible value of the property without any repairs done to it.
“As-repaired” value: The possible value with the repairs needed to make the property marketable at full market value, consistent with similar homes in the area.
“Quick-disposition” value: The possible value of the property with minimal investment in repairs, marketed as a “fixer-upper” to sell the home quickly.
FHA Appraisals: FHA appraisals are property valuations conducted by appraisers approved by the Federal Housing Administration (FHA). These appraisals are specifically for properties that are to be financed with FHA-insured mortgages. FHA appraisals aim to assess the condition and value of the property to ensure it meets FHA minimum property standards and is suitable for financing. Appraisers evaluate various aspects of the property, including its structural integrity, safety, and livability. FHA appraisals also consider factors such as the property’s location, size, and comparable sales in the area. The primary goal of FHA appraisals is to protect both the lender and the borrower by ensuring that the property meets FHA requirements and is a sound investment.
Land Appraisals (Vacant house lots, multiple acres, etc.): A land appraisal provides an opinion of value by considering factors such as location, size, zoning regulations, accessibility, topography, and potential for development or land use. These value opinions are crucial for numerous purposes, including buying or selling land, securing financing, estate planning, taxation, and legal matters