View Christine Pyle-Banks AppraiserChris's profile on LinkedIn




Mortgage & Refinancing Loan Appraisals


Phone:
530.626.4403 Office
530.503.7806 Cell

Proof of License &
E&O Insurance
Provided
Upon Request



When do you need a property appraisal?
A residential appraisal is a monetary valuation of a property. It determines the fair market value of that property at a certain date; usually it is the date of observation
but can be a date that determines value as of that certain date. This appraisal is their document stating this property is worth this amount. If you are looking at this page
you probably need an appraisal. We are Certified Residential Appraisals. If you are looking to get a first mortgage or a refinance the lender want to know what your property is worth. You will want to have an area competent appraiser establishing
the value of your property. One that is familiar with the foothill living and lifestyle
that makes up our community.

Who orders the appraisal?
If your need is a mortgage transaction, finance or refinance and a lending
institution is involved you need to ask them. You can order any appraisal that
you need except when it comes to a federal related transaction that need a
third party source and then your appraisal will be ordered by them.

What is an Appraisal Management Company and how do they affect
my ability to order my own appraisal?

An appraisal management company is a third party source that is the go between the appraiser and the lender. Their role is to facilitate the ordering and delivery of appraisal reports. AMC have been around since the 1960 but drew support during 2009 when the HVCC Home Value Code of Conduct was developed to isolate any parties with financial interest in the valuation of a property. This is no longer in force but we now have the Dodd Frank Wall Street Reform and Consumer Protection Act. The AMC’s have grown and most appraisals with Mortgage and Refinance are through these companies.


For a full explanation on AMC’s and your role when ordering an appraisal go
to the NAR page.
http://www.realtor.org/appraisal/nar-issue-brief-appraisal-management-company-qa

Appraisal Management Company (AMC), selects a licensed independent professional appraiser by law, the appraisal must be done by a third party who has no interest in the outcome of the appraisal.

We are on most approved major AMC lists. Please check with your lender what AMC they are using and if they can request an area competent appraiser from the list.
Can we ask for an area competent appraiser? Can we choose our appraiser? How do we know if the appraiser that is appraising our property is familiar with our area the diversity of our lifestyle? These are questions you have a right to ask.