APPRAISAL/APRAISAL REVIEW PROCESS
HomeVue attempts to make the appraisal and appraisal review process simple. Many options are provided to streamline the appraisal process.
- You can order your appraisal through ANY Appraisal ManagementCompany (AMC) you prefer.
- You can order your appraisal through one of our preferred vendors below.
*ProTeck Valuation Services
* LRes Residential Services
* US Real Estate Services
- The appraisal can be completed up to 120 days from funding.
- The appraisal does not have to be in HomeVue’s name.
- You can use a previously created appraisal not completed by an AMC. These might require an additional fee as we will need to thoroughly validate the accuracy of the data and value.
- Appraisals older than 120 days at funding will need a re-cert of value.
- HomeVue will not accept appraisals older than 180 days from original completion date.
- HomeVue adheres to all regulatory appraisal compliance statues.
- HomeVue does not allow broker owned or operated AMC’s to be used for the completion of the appraisal.
Third Party Appraiser Reviews/Broker Price Opinions (BPO’s)
- HomeVue reserves the right to order an appraisal review/BPO at its sole discretion and in most cases one will be ordered on every appraisal submitted.
- In most cases, HomeVue will incur the cost of the review work to confirm the value from the appraisal.
- The appraisal review/BPO is ordered before loan documents are prepared as it provides HomeVue with the most current information to determine a property’s value.