Introduction
We are a residential appraisal firm covering Metro-Atlanta and North Georgia. We have been in business since 2007 and have extensive experience appraising all types of residential properties. Our goal is to exceed expectations in customer service and responsiveness while providing thorough appraisals.
Changes in GSE Appraisal Policies
March 3rd Fannie Mae rolled out an announcement encouraging the greater use of alternatives to an appraisal. Freddie Mac is also expanding its use of appraisal alternatives.
How GSE Changes Impact Agents
The result of these changes, and the increase of their implementation, is greater risk to both consumers and agents.
The alternatives to appraisals allow for less transparency in how properties are valued, increases the likelihood of homes selling for amounts other than their market value (think Zillow losses), and increases the liability to agents to make sure the purchase price is supported. There has been an increase in lawsuits against agents claiming they were misled about value. Agents have a responsibility to their clients to act in their best interest. Agents rely on other professionals to advise clients that a home is sound and has a clean title. When no appraisal is required by GSE’s, agents can rely on us to take on the liability and make sure the homes value is supported.
Additionally, service providers for appraisal alternatives are using minimally vetted and minimally trained inspectors to provide Property Data Reports (PDR’s). One Fannie Mac sponsored informercial has stated inspectors only receive 3 hours of training. Agents cannot rely on someone with no experience and virtually no training to replace a qualified appraiser.
How We Can Help
For Your Buyers
- Limit Liability. We can complete an appraisal for your buyers before making an offer to assist in negotiations, or after the house is under contract to fulfill your appraisal contingency requirements. Both circumstances work to limit your liability in-regards to value.
- We are your client. In a traditional appraisal ordered by the lender, the lender is the appraisers client. Due to Federal and State regulations, the appraiser cannot discuss the results of the appraisal with anyone other than the lender. When you hire Baldwin Real Estate to appraise a property, you are our client. We are available through-out the process to discuss every aspect of the appraisal and answer all questions.
For Your Sellers
- Find the right price. The current real estate market is in a state of constant flux. Some markets have dropped 20+% in the last year while others are still increasing. Listing a home at the right price is critical. If you list your house too high, you risk losing potential buyers, becoming a stale listing, or not being able to sell. If you price it too low, you risk leaving money and commissions on the table. Getting an appraisal before you list eliminates these risks.
- Get the most bang for your buck. We will work with you and your seller to identify any simple fixes which will give the greatest return and help set your listing apart from the competition.
- Go into negotiations prepared. Knowledge is power. A pre-list appraisal will help negotiations by equipping you with the best information and data supporting the listing’s market value.
- We stand behind our product. “Low Appraisals” can be a “deal killer!” An appraisal ordered by the buyer’s lender is one of the last things to occur prior to closing, and without specialized knowledge, it is one of the hardest things to appeal when it is inaccurate. Having spent two years working in the mortgage repurchase industry for Bank of America and Fannie Mae, I have the specialized knowledge to identify the critical errors and violations of appraisal standards in inaccurate appraisals. If the final appraisal is inaccurate, we can work with the you and the lender to appeal the appraisal.
Coverage Areas
Bartow, Cobb, Cherokee, Dawson, DeKalb, Douglas, Fannin, Forsyth, Fulton, Gilmer, Gordon, Gwinnett, Lumpkin, Paulding, Pickens, and Union Counties
Contact Today
John Baldwin, SRA
Owner & Chief Appraiser
Baldwin Real Estate