Valbridge uses custom software to create valuation templates for clients that are not the typical Appraisal narrative - making service available to all!
By: Jessi Minneci The experts at Valbridge Property Advisors are constantly working, not only to improve our existing products and services, but to develop new tools and processes that provide our clients with an overall "second to none" experience. At Valbridge, we are pleased to note that we have and continue to develop comprehensive and advisory appraisal services for all types of property. We produce custom, consistent appraisal reports across the U.S. market for (but not limited to) office, industrial, and retail buildings, along with hotels, multi-family homes, and apartment buildings. But we don’t stop there… Our newest area of expertise centers particularly on our banks and financial institution clients. After all, we strive to be different from the competition by working swiftly and efficiently to provide our clients with all necessary and relevant aspects of the appraisal process – oftentimes seeing what the competition hasn’t. Indeed Valbridge has become a leader in the Eval space, due in no small part to Datappraise. Subsequent transactions and Valbridge Throughout the real estate appraisal process, subsequent transactions of existing credits are necessary at banks and financial institutions if certain criteria are met. According to the Federal Deposit Insurance Corporation (FDIC), subsequent transactions include the following:
But what happens after those loans are evaluated and appraisals are complete? Way too often, we notice that the valuation information gets filed away and collects dust until the property is again in question. But once it is pulled… what if that information is out-of-date? How can banks and financial lenders determine accuracy based on its timeline? Does the entire process need to be started from scratch?! Banks and financial institutions oftentimes have to go through lengthy processes, valuable time, and hard-earned money to get these preexisting loans (re)evaluated. Valbridge is changing that. We are evolving to extend our full suite of professional services to encompass evaluations needed on existing loans for banks and financial institutions in a timely and reputable manner. New Loan Appraisal Standards Up until now, the appraisal threshold (making appraisals a requirement) stood at a property valuation level of $250,000. Recently, the FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency jointly raised the current appraisal threshold for commercial real estate transactions from $250,000 to $500,000. Regardless of the new threshold, what happens when banks still want to check up on a loan that’s been on their books? Are they out of luck in the resources department? No! We at Valbridge are now using our own software and databases to create valuation templates for clients that are not of the typical Appraisal narrative. The clients have different needs and wants – some want a very restricted look at an existing loan on their books or possibly a new loan with amounts under the $500,000 threshold; others want a more thorough look with a limited reporting process. Possibility with Datappraise With Datappraise and our custom, proprietary reporting templates, we have the ability to create any type of product that our clients need. Using Datappraise, appraisal evaluations can be done quickly using templates that speak directly to our expertise and vast database – saving our financial clients time and money! The appraisal process is three fold – gather, analyze, report. Valbridge makes the process simpler than ever before with our first in class technology that can be customized for each and every one of our clients! Take advantage of Valbridge’s comprehensive services today Forget the headaches of the past. Now, you don’t have to fret when you’re in the market for reviewing old loans and appraisal projects that are already on the book. The experts at Valbridge are eager and ready to work with you to get the job done. Get in touch with Valbridge today and get the ball rolling!
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