Market Data Search Pricing:

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  3. Create an online account and start submitting address research requests!

Independent Appraisal Services can provide market data search results for sales in Southeastern Wisconsin. The price for this service is $50.00 (in advance, please) per address. This charge will NOT be applied to the price of any future requests, as the Conduct and Management sections of the ETHICS RULE, particularly in regard to assignments offered under condition of “predetermined opinions or conclusions” or compensation conditioned on the reporting of a predetermined value result, a direction in assignment results that favors the cause of the client, the amount of a value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the appraiser’s opinions and specific to the assignment’s purpose. Each and every request is treated as a a new assignment with a new scope of work identified. This service is NOT an appraisal but will provide you with "Neighborhood" or "Market Area" sales data. Independent Appraisal Services can tailor the search to meet YOUR criteria. The more specific your request the more reliable and pertinent the search results.

"Can you check comps for me?

I want to know if I should order an appraisal"

That's a common question that is asked of appraisers every day. Lenders and borrowers don't want to waste their time and money on loans that won't "Appraise Out". Comp Searches (pre-appraisal market value opinions) may also seem like good "Customer Service".  

That may appear to be true on the front-end, but those "searches" back-up appraisal production on the back-end (causing delays in appraisal delivery) and generally it's expected that the appraiser will not be compensated for THEIR time!.  Also . . . Did you know that checking "comps" and providing an "estimate" of a home's value prior to receiving the appraisal order MAY put the appraiser in violation of the Uniform Standards of Professional Appraisal Practice (USPAP) and jeopardize their state license? 

Independent Appraisal Services prepares all appraisals in compliance with USPAP and WI State Appraisal Licensing laws.  This protects you, us, and the property owners.  USPAP Advisory Opinion 19 provides some excellent examples and references on this and other  "Unacceptable Appraisal Assignment Conditions" .   

 

"But ALL of my other appraisers do it!"

Yes, every profession has inexperienced or unethical members that are willing to do just about anything for a buck. Our WI Department of Regulation and Licensing and professional organizations are doing what they can to crack down on illegal and unethical appraisal practices. In 2004, The Illinois Department of Financial and Professional Regulation - Division of Banks and Real Estate, fined Choice One Mortgage, Inc., an Illinois residential mortgage licensee, $5000.00 for ordering appraisals from an Illinois licensed appraiser with a minimum value request. Appraisal orders would be cancelled, not paid for, or otherwise negatively treated when the appraiser did not provide the accepted minimum value.


 



 

 

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