Types of appraisal reports include the following: RESIDENTAL, COMMERICAL, LAND, INDUSTRIAL, SPECIAL PURPOSE, RELOCATION, LITIGATION, and REVIEW.
Accurate valuation: Appraisal reports provide a professional assessment of the property’s value based on various factors such as market conditions, comparable sales, and property condition. This helps you as the broker to establish an accurate listing price or negotiation strategy, ensuring that the property is priced appropriately in the market.
Credibility and confidence: Appraisal reports are prepared by licensed and certified appraisers who are considered experts in property valuation. Having a professionally prepared appraisal report lends credibility to the broker’s opinion of value and provides confidence to both the seller and potential buyers. IPG’s Appraisers are nationwide, assigned based on broker’s need, pre-screened, qualified, and closely monitored.
Supporting negotiations: Appraisal reports that present factual data and analysis to support the broker’s negotiations with buyers or sellers. The report will help justify the asking price or counteroffer, facilitating a smoother negotiation process, and increasing the likelihood of successful sale or purchase.
Financing and lending: Appraisal reports are often required by lenders to determine the value of the property for mortgage purposes. Real estate brokers who have a current and accurate appraisal report can streamline the financing process, as it provides vital information required by lenders to make lending decisions.
Risk management: Appraisal reports help brokers mitigate potential risks associated with inaccurate or inflated property valuations. By relying on the expertise of a licensed appraiser, brokers can minimize the risk of overpricing properties, which could lead to extended listing periods, reduced buyer interest, or even legal complications.
IPG has Appraisers nationwide with the expertise to provide Residential, Commercial, Land, Industrial, Special Purpose, Relocation, Litigation, and Review Appraisal Reports.
- Residential Appraisal Services: These appraisals estimate the value of single-family homes, condominiums, townhouses, and other residential properties.
- Commercial Appraisal Services: These appraisals focus on estimating the value of commercial properties such as office buildings, retail spaces, industrial buildings, and multifamily properties.
- Land Appraisal Services: Land appraisals determine the value of vacant land, including raw land, development sites, and agricultural properties.
- Industrial Appraisal Services: These appraisals specialize in estimating the value of industrial real estate, including warehouses, manufacturing facilities, and distribution centers.
- Special Purpose Property Appraisal Services: Special purpose property appraisals assess the value of unique properties with a specific purpose, such as churches, schools, hospitals, or government buildings.
- Relocation Appraisal Services: These appraisals are conducted when individuals or companies need to determine the value of a property for relocation purposes.
- Litigation Support Appraisal Services: Appraisals in this category are performed to support legal proceedings, including divorce settlements, estate settlements, eminent domain cases, and tax appeals.
- Review Appraisal Services: Review appraisals are independent evaluations of previously completed appraisals to ensure accuracy and compliance with industry standards.
- Appraisal Management Services: These services involve managing the appraisal process for lenders, including selecting and coordinating with appraisers, reviewing appraisals, and ensuring compliance with regulations.
IPG’s Appraisal Management Team understands that appraisal reports play a crucial role in assisting Real Estate Brokers in accurately determining the value of properties, supporting negotiations, satisfying lender requirements, and managing risks, ultimately benefiting both the broker and their clients.
IPG also provides Single Family Property Inspection Services (SPI) for (HUD). Required at various points in the mortgage servicing process, including upon delinquency, in foreclosure, and while managing and disposing of real estate owned inventory. These inspections determine the overall condition of the property, security of the house, occupancy status, maintenance and capital repair requirements, neighborhood conformity, and other related information.
IPG is experienced in providing RCS services for HUD in relationship to properties that have been entered into Section 8 subsidy contracts. The Section 8 Renewal Policy Guidebook “Guidance for the Renewal of Project-Based Section 8 Contracts, “states that Section 8 contract renewals are authorized under tow provisions MAHRA, an owner is required to submit a RCS prepared by a state certified General Appraiser to initially determine eligibility. Our company provides all personnel, material, supplies, equipment, transportation, and facilities deemed necessary by the statement of work. All Appraisers are licensed as a Certified General Appraiser in good standing in the state where the subject property is located. The Appraisers active in performing RCSs or multifamily appraisals, meet USPAP competency requirements, and have knowledge of the Section 8 Renewal Policy Guidebook.
IPG’s experience as a prime contractor for the U.S. Department of Housing and Urban development include conducting MFCI and performing various construction inspection tasks. These inspections are made to evaluate the builder’s and supervisory architect’s performance, to obtain construction in accordance with the construction contract documents, and to report on conformance with prevailing wages (when applicable) and other construction contract requirements. IPG serves as HUD’s representative for HUD forms, procedures, and other related tasks. This contract required IPG to provide HUD with the field/site data necessary to make informed decisions regarding the construction phase of the HUD multifamily mortgage insurance underwriting and capital advance programs.
With over 13 years of experience under the Real Estate Umbrella, IPG has the foundation to provide provided property preservation services nationwide. Servicing government agencies and asset management companies, IPG has a foundation in maintaining and protecting properties that are in the process of foreclosure, vacant, or abandoned. The goal of property preservation is to keep a vacant property in top condition until it can be sold. This also helps the bank comply with property maintenance and care ordinances.