Refinancing Homeowners

Refinancing can be great, but it can also cost a lot of time…and money.   The appraisal alone costs about $400 to $500 bucks, and  the deal is normally contingent upon the properties’  appraised value.

These days most lenders want their clients  to pay for the appraisal, since they don’t  really know what it’s worth.  If you’re going to pay for an appraisal and spend lots of time preparing all your documents, it’s a smart decision  to have the most realistic idea of your properties’ current value.

While guessing what your property is currently worth, your lender will tell you one thing, your friend will tell you another, and any neighbor will give you their two cents.  No matter who you talk to, you won’t really know until the appraisal is completed.

By ordering a CompChexx report, you’ll have a much better idea of your properties’ appraisal value.

Mortgage Lenders

Before HVCC and other new appraisal regulations were put in place a couple years ago,  lenders used to call  their appraiser friend, and ask what they thought a certain property was worth.   This was called a “Comp Check”.

Appraisers and lenders were not supposed to do this, but everybody did.   If the appraiser thought the property was worth what the lender needed to make the loan work, the lender ordered the appraisal.  If not, the lender was on to the next appraisal that did!  The big banks thought this was leading to coercion (driving up home values), and they were right

Long story short, appraisers no  longer perform Comp Checks for lenders.   Since the lender does not know who will be  appraising the property, there is no motivation  for the appraiser.  As a result, lenders are now left wondering what their client’s property is worth, until the appraisal is  complete.    Needless to say, they spend lots time and money on appraisals that should have never been ordered.

Every day, lenders tell us how happy they are the found our service, because now they have a much better idea of what a property is going to appraise for.  They don’t have to rely on free valuation websites, and they don’t have to guess.  Using CompChexx saves them hundreds and thousands of dollars on wasted appraisals, and countless hours on deals that never had  a chance in the first place.

Real Estate Buyers

Do you have a house you want to buy?  Do you think it’s a good deal?  Do you think it’s selling too high?  Do you think it’s selling  too low?  Is the agent pressuring you to buy?  Are the agents and lenders promising you it’s a good deal ,and telling you to buy before it’s “too late?!”  Of course they want you to buy, because then they get paid!

Why not know if it’s a good deal?  We give you the most realistic chance to determine the properties’ value,  before you jump into anything .  Look before you leap, and make sure you’re getting a good deal.

Real Estate Sellers

Thinking of selling your house?  Then you better know what it’s worth!  In any type of market, it’s imperative to have a good idea of what it’s going to appraise for, and what your agent thinks it can sell for.   Although other properties in the area are “listed” at one price, it doesn’t necessarily mean they will “appraise” for that price.   After ordering a report through CompChexx, you immediately begin selling your house with an advantage.

Real Estate Agents

As an agent, we know you have a good idea of what the property will sell for, but do you have a good idea of what it’s going to appraise for?  Are you listing it too high?  Are you listing it too low?  Real Estate agents love using CompChexx, because we give them the appraiser’s point of view.

Even if you list a house and it sells in 10 minutes, it doesn’t necessarily mean it will appraise at your listing price.  Appraisers and agents are naturally different…one wants to be conservative, one wants to be aggressive.  Guess which is which?!  By using CompChexx as a cross reference, agents can better determine how much money they can make, and be prepared for possible appraisal challenges ahead.