Due to current conditions of the real estate market,  The short sale has become common place.

A SHORT SALE CAN NOT BE INITIATED WITHOUT AN APPRAISAL to determine if  a property owner owes more than what his collateral is worth.  Bank negotiations can not start until an appraisal is completed.

The short sale requires a full URAR with a supplemental Real Estate owned Appraisal Addendum.

This special appraisal and addendum is one of the most important steps in completing a short sale deal. It's important to pick an appraiser who knows the mechanics involved, current  market trends and can not only evaluate the current market,  but also can come up with an anticipated value of the subject property. Lenders want to know market value but also want to know as repaired values with reasonable market time.(the lender usually sets the market exposure time. They most often use  30 to 90 days). Another words they want to know what price to put on a property so that they can sell it within 90 days.

If you are a Realtor trying to put together a short sale deal it is important that you get one of these special appraisals beforehand. To start a short sale negotiation package, an appraisal is one of the many requirements in this package.

Will the lender want to order another appraisal?  The answer to this is probably yes, but the inital appraisal is still necessary to start the process. Most banks now use 3rd party management companies and will order an appraisal through them. Unfortunately this is not always the best way to order an appraisal because most of these appraisers are on a rotating list and chances are that you may get an out of area or inexperienced appraiser to do this job and  they may not know the difference between market and anticipated value and this could kill your deal.

The advantage of using us as your appraiser is  that we actually perform REO appraisals for most  management companies to begin with and though it is not guaranteed, we may even get the assignment from the management company. I have also found that many times the bank will accept our appraisals without ordering another appraisal because they recognize the name, Of course this depends on what underwriter is assigned to your case and what kind of a day he is having . He may order an appraisal anyway. But by using us as your appraisers, the odds of not ordering another appraisal is greater than if you use another appraisal company. Plus if another appraiser doesn't complete the appraisal forms properly, the lender may give our appraisal more weight than other appraisers reports as to we already complete appraisals for a lot if these institutes.

We are currently running a short sale appraisal special of $250 in the following counties

• Citrus County
• Hernando County
• Pasco County
• Pinellas County
• Hillsborough County
• Our Duval county appraiser feels she is currently unqualified to do REO in DUVAL COUNTY

                             ORDER ON LINE  or go to our Short sales info page for more facts