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Ordering Questions
My borrower wants to pay for their appraisal at closing. Do I really have to pay for the appraisal up front?
Unfortunately, due to the high volume of appraisal orders we handle, AppraiserLoft is not able to place an order with a local appraiser until the appraisal fee has been collected.   AppraiserLoft suggests that you or your borrower pay with a credit card when you place your order and arrange to have the expense reimbursed when the loan closes.  Having the client pay for the appraisal up front  assures that your order will be processed as quickly as possible, and has the added benefits of discouraging your client from choosing to switch to another lender at the last minute, and guarantees that you will not be left responsible for the appraisal fee if you are unable to close the loan.
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My borrower refuses to pay for their appraisal up front. Can you make an exception for me?
Sorry, but no.  Due to the high volume of appraisal orders AppraiserLoft handles, we are unable to make any exceptions to our payment policy.
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I need this appraisal back right away. Can I place a rush order?
You have come to the right place.  All orders submitted through AppraiserLoft are processed on a rush basis and you will receive your appraisal report ASAP.  This having been said, there are steps you can take to help us expedite your order:
  1. Make sure you or your borrower are ready to pay the fee at the time you place your order.
  2. Let your borrower know that you are in a hurry, and to expect a call from an Appraiser within a day.   Encourage your borrower to make the appointment for the earliest time the appraiser has available.  Your borrower should be ready to adjust their schedule to the appraiser's availability, or should make arrangements to have someone let them in the property.  They should not expect the appraiser to be willing to schedule the appraisal outside of normal business hours -- the appraiser needs to see the property in broad daylight and will not be able to inspect the property in the dark or during some inclement weather.
  3. If you are ordering a interior/exterior appraisal then do not assume that your borrower knows that they will have to provide the appraiser access to ALL interior and exterior areas of the property .  It is common for a property owner to be surprised by this, and it occasionally results in unnecessary delays.  It is also important to let the person who will be meeting the appraiser know that they will have to have access to every single unit in a multi-family building, and that any obstructions that  limit the appraisers physical or visual access to any part of  the property (such as junk or building supplies piled up against exterior or interior walls) could result in a delay.
  4. Make sure that you submit all the necessary information correctly.  By far the leading the leading cause of appraisal delays is a lack of attention to detail on the part of the person ordering the appraisal.  AppraiserLoft recommends double checking all the information before submitting your order:
    • Are the borrower's name and access contact spelled correctly?
    • Is the property address correct?
    • Did you provide a couple of working phone numbers for the access contact?
    • If your appraisal order is for a real estate purchase,  did you attach a copy of the sales contract?
    • Did you include an accurate lot size and legal description, relevant real estate tax information, and notice of any unusual or special conditions?
    • Are you ordering the correct appraisal report?  Check with the lender and make sure you know the correct form number and any extra addenda that are required to close the loan.  Generally, multi-family properties need to be on multi-family forms, manufactured homes on manufactured housing forms, and non-owner occupied property appraisals will need to include operating income statements and rent schedules.
    • Is a cost approach or income approach required.  Generally the cost approach and income approaches are not relevant to an accurate value estimation and the appraiser will not include them unless specifically asked to do so. Check with the lender before you order to avoid delays.
    • Is the e-mail address you have have submitted as your contact e-mail correct and are you checking it regularly?  You will receive status updates and notification of any problems through your e-mail as well as on the AppraiserLoft website so make sure you check both as often as you can.
  5.   Make sure that your borrower is fully aware of the possible consequences of delaying their inspection or missing their scheduled appointment.  Let them know if such delays are likely to cost them money or delay their closing.
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I have ordered an appraisal I no longer need. Can I cancel my order?
You may cancel your order anytime before the property has been inspected.  Once the property has been inspected the appraiser has done most, if not all of the work required to complete the appraisal report and will need and expects to collect the appraisal fee.  If you suspect that there is a significant chance that your appraisal order will need to be canceled after it is placed it is best to have your client pay for the appraisal up front in order to avoid getting stuck with the bill.  Let your client know that the appraiser must be paid for completing a service regardless of whether or not they close their loan, and inform them if you consider them responsible for the appraisal fee.  Please be aware that an appraisal order is a legal contract and that the individual, or, in the case of someone acting professionally, the employer of the individual ordering the appraisal is legally responsible for the appraisal fee.  AppraiserLoft recommends that payment arrangements are made before the appraisal is ordered, and that all of the parties involved agree ahead of time who will be paying the fee.
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The house I need appraised is in a remote location. Can I really get an appraisal done in that area?
AppraiserLoft aims to provide appraisals for the entire United States.  If the subject property is in an extremely remote location AppraiserLoft may not have a relationship with an appraiser who serves that area yet.  As always, AppraiserLoft will charge a fair local market price for every appraisal, and deliver your appraisal ASAP.  Be advised that in remote locations where there is little competition, and often considerable travel time, prices for residential appraisals are typically quite a bit higher and the service quite a bit slower than in more populated areas.
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I cannot upload the sales contract. Can I fax it to you?
Yes, you may fax a sales contract to us. Please fax this to 877.797.0280.
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How does the process work?
Ordering an appraisal through AppraiserLoft.com is simple. 

1.  Place your order for a residential appraisal anywhere in the country. 

2.  Pay for the order or have your borrower pay through the website.  (For invoicing/billing options, please feel free to contact us at 877.229.7799)

3.  We'll place your order with one of our approved national appraisers.

4.  You'll be sent multiple email updates and a final email when the appraisal is complete!
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Can I request comparables(comps)?

It would be our pleasure to pull comparable sales data, however, we ask that you submit the request from our website so we will be able to provide you with better service and ensure a rapid turn-around.  

Any comp requests submitted through email, fax or by phone will not be completed.

Directions for comp request submittal:

  • Log in to your account  by clicking on the orange "Login" link in the upper right corner.  (If you are not currently registered with us, you can become registered by clicking on "AppraiserLoft Sign Up" on the right)
  • Once logged on, click on "My Dashboard" (upper left corner).
  • Click on the navigation tab labeled "Sales Comparables"
  • Fill in the necessary fields of the online Comp Request Form (include any additional information you may know about the property in the Notes section).
  • Click on "Request Comparables" when finished. 

With this new feature you are now able to keep record of each comparable sales request for unlimited preview while also keeping a list of all pending requests.  Also, if you choose to proceed with an appraisal order upon reviewing the returned comparable information, you can do so easily through this added convenience. 

After submitting your online comp form the request is then immediately forwarded to me for processing.  Upon receiving the comp request, I will review the property information and comparable sales for the property and provide you with the details.  As far as turn-time, I aim to get the comparable data back to you, via email, within 24 hours of submittal.  I look forward to seeing your request come through our website.

If you have any questions or concerns, please do not hesitate to contact me.  I am available, for you convenience, via phone or email at the below posted locations.
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How much does an appraisal cost?
The pricing for appraisals varies on the zip code and the type of appraisal being ordered.  Please click on the Pricing tab at the top of the screen to find appraisal pricing for the whole nation.
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Do you have an appraiser in my area?
Appraiser Loft has a network of over 5,000 approved appraisers all across the nation.  You can order an appraisal in any remote area and we'll get it done!
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Can I place my order by fax or phone?
With AppraiserLoft.com, we prefer that all orders are placed through our website.

If you would like to place your order over the phone, please call us at (877) 229-7799.

If you would like to place your order by fax, please send it to (877) 797-0280.
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What is the turn-around time?
Appraiser Loft makes sure the order is placed and scheduled within 24 hours of receiving the order with payment.  As soon as the property is inspected, we usually have the final appraisal within 24-48 hours.

If you would like the order rushed, please place the order online and then give us a call to place the rush request.
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I have an underwriting condition. Where do I send it?
If and when you receive conditions from your lender, please submit the exact condition to our office in the form of an email at underwriting@appraiserloft.com. Please include the address of the property in the subject line. These conditions should be sent over in as clear and specific language as possible, preferably in a bullet point format. We do not charge anything extra for conditions to be completed, unless the appraiser has to make an additional trip back to the property for any treason.
It is our goal to return all revised reports within 48 hours of receiving the condition. If the condition requires additional work or research and it will take longer than the 48 hours to complete, we will inform you of the revised time line.
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Types of Appraisals
Uniform Residential Appraisal Report - URAR (FNMA 1004 / FHLMC 70):

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD), based on an interior and exterior inspection of the subject property. This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project.

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Exterior-Only Inspection Residential Appraisal Report- Drive-By (FNMA 2055):

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD), based on an exterior-only inspection of the subject property from at least the street. This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project.

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Manufactured Home Appraisal Report (1004C):

This report form is designed to report an appraisal of a one-unit manufactured home; including a manufactured home in a planned unit development (PUD) based on an interior and exterior inspection of the subject property. A Manufactured home located in either a condominium or cooperative project requires the appraiser to inspect the project and complete the project information section of the Individual Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report.

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Small Residential Income Property Appraisal- Multi-Family (1025):

This report form is designed to report an appraisal of a two- to four-unit property, including a two- to four-unit property in a planned unit development (PUD). A two- to four-unit property located in either a condominium or cooperative project requires the appraiser to inspect the project and complete the project information section of the Individual Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report.

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Individual Condominium Unit Appraisal Report (1073):

This report form is designed to report an appraisal of a unit in a condominium project or a condominium unit in a planned unit development (PUD) based on an interior and exterior inspection of the subject property. This report form is not designed to report an appraisal of a manufactured home or a unit in a cooperative project.

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One-Unit Residential Appraisal Field Review Report (2000):

A lender uses this form for the spot-check appraisal component of its quality control process. This appraisal field review report is intended to provide the lender/client with an opinion on the accuracy of the appraisal report under review.

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Multi-Family Residential Appraisal Field Review Report (2000A):

A lender uses this form for the spot-check appraisal component of its quality control process. This appraisal field review report is intended to provide the lender/client with an opinion on the accuracy of the appraisal report under review.

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Residential Final Inspection (442):

The lender uses this form to document that an architect or engineer has reviewed a new project and has certified that the project has been completed in accordance with the plans and specifications (or that any incomplete items are minor and do not affect livability).

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Operating Income Statement (216):

The lender should use this form to determine the amount of operating income that can be used in evaluating the applicant's credit on applications for conventional mortgages that are secured by one-family investment properties and all two- to four-family properties (including those in which the applicant occupies one of the units as a principal residence).

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Single-Family Comparable Rent Schedule (1007):

The lender uses this form to obtain the market rent for a conventional single-family investment property from the appraiser.

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Source of information

* All information listed in this section is up to date as shown on the Fannnie Mae website*

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Appraiser Questions
How will I be paid for my work?

AppraiserLoft will send a check for completed orders on a rolling 30 day pay period. What this means is that you can expect AppraiserLoft to process and cut a check for each order completed 30 days after it's completion. Example: If you  complete a report on December 15, 2022 you can expect to receive an email alerting you that your check has been processed and mailed on January 15, 2008.

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I have not yet inspected the home. While I am not yet sure of the homes value, the borrower's estimate of value is outside of the range of reasonable values. What should I do?
If you have not yet completed an inspection of the subject property, please stop, and notify us of the problem.  There are several reasons that the customer's estimate of value can be drastically incorrect.  Chances are the loan officer is completely unfamiliar with the subject property and market and we want to keep them well informed and treated fairly at every stage of the process.  Select the order from your dashboard and click on the "there is a problem with this order" link.  If you have already inspected the property, or if you feel you need to inspect the property in order to be reasonably sure of the a possible range of values, then proceed with the inspection and inform us if you still find that  there is a drastic difference in value. 
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Will I expected to do comparable searches before receiving appraisal orders?
Due to the large number clients that AppraiserLoft serves, and the large number of appraisal orders we process, AppraiserLoft is unable to provide any pre-order comparable information.  As an AppraiserLoft appraiser you will not be expected to perform any pre-order comparable searches. AppraiserLoft does recommend that, in the interest of fairness and good customer service, you do some pre-inspection research on the subject property once the order has been received and report any significant issues.

There may be rare circumstances when due to the unique nature of the property an AppraiserLoft representative will call you for your professional expertise in order to determine the best and most cost effective appraisal to be performed on a particular property.

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Is there any way I can be guaranteed a certain number of appraisals a month? How about all of the appraisals in my area?
The number of assignments an appraiser receives is dependent on several conditions.  Appraisal assignments will be offered to those appraisers that are closest to the subject property, have the fewest number of  outstanding orders, and many other factors.  If you happen to work in an area where a large volume of appraisals are being ordered, check your e-mail regularly, and complete assignments in a professional and timely manner you will be offered more orders than someone who does meet these criteria. 
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Login and Password Problems
What if I can't remember my username?
If you cannot remember your username, click the link on the homepage for "forgot username/password" and it will ask your to enter your email address used to create the account. Once you click submit, it will email your password to you momentarily.
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What if I can't remember my password?
If you can't remember your password, click the "forgot username/password" link on the home page to reset your password.
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How do I change my username?
If you would like to change your username, please call us at 877.229.7799 and one of our representatives will be able to assist you.
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How do I change my password?
To change your password, go to the "My Account" section once logged in and there is a link to change your password.
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I keep getting logged out of my account while using and don't know why...
If you keep getting logged out of the site, please try changing your password. Each user account is only meant to be used by one user, and sharing the account could cause the first user to be logged out when another user logs in using that username. If there is another error causing you to get logged out, please call one of our representatives at 877.229.7799.
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Advertising
How do I advertise on the site?
If you are interested in in advertising on AppriaiserLoft, please contact us at 877.229.7799 or click the "Advertise" link at the bottom of any page for more information.
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LenderLoft.com
What is LenderLoft.com?
LenderLoft.com is a portal for brokers, loan officers, lenders, and account executives in the wholesale mortgage industry.  The site launched in April of 2006 and is a sister company to AppraiserLoft.
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