Fort Lauderdale Appraisals

If you think the most important part of your mortgage is your interest rate you better think again.  If the property doesn’t appraise it changes everything.  Appraisals are a big issue right now due to the change in the appraisal standards and the banks and brokers being required to use an Appraisal Management Company (AMC).

When your appraisal is ordered through an AMC you never know who the appraiser is going to be, if they know the area, how long they have been in the business, if they are conservative, etc, etc.  And the banks have ownership interests in the AMC.

You need to deal with a Mortgage Bank that picks their appraisers but has them rotated so that they are still compliant with the HVCC Appraisal Standards.  I will never work for a company that doesn’t do this that is how large of a role this plays.

Make sure to check out The Wall Street Journal article, “Judgment Call: Appraisals Weigh Down Housing Sales.”