Is it time to put your appraisal project in the hands of a trusted Appraisal Management Company? Probably – here’s why…
If you’ve had experience with the commercial real estate and/or mortgage industry, even if only a bit of exposure, you’ve probably noticed just how complicated the appraisal management process can be. There are a number of (constantly evolving) pieces in the appraisal development puzzle, such as maintaining state and federal compliance and sustaining an open line of communication with all involved parties (and second and third parties…).
Bottom line is that, for better or worse, there are a number of things that could go wrong and would need immediate attention if that were to happen. If handled internally, this would usually require a large staff and a ton of time that could’ve been spent otherwise.
Enter an Appraisal Management Company (AMC – like Oxford!).
An AMC acts as the intermediary between banks or financial lenders and appraisers. In order to ensure that all appraisals are done successfully and proficiently, an AMC will enlist a team of qualified appraisers and personnel to monitor the process, with an open line of communication, from start to finish. The AMC plays a huge role in the quality control process by monitoring the appraisal process, reviewing an order and assisting in any necessary revisions, and delivering a product that is complete and 100 percent compliant.
What we’re getting at here is that there are a number of beneficial reasons to work together with a seasoned AMC during your commercial real estate evaluation process. Here are some of the top reasons you should consider working with a professional AMC like Oxford:
AMC’s pair you up with a quality appraiser
At Oxford, our highly trained (and MAI-designated) appraisers make the process of obtaining a reputable appraiser an absolute breeze for client’s looking to make an investment in commercial real estate. This is essential to a smooth process, as your appraiser is responsible for:
- Ordering and tracking the delivery of all services rendered
- Taking care of certain financial flows, including those needed for mortgage transactions of a property
- Managing the negotiations between the lender or mortgage broker and the real estate investor
Essentially, an appraiser will carry out all of the administrative functions involved in the ordering, completion, and delivery of an appraisal report. When working with an AMC like Oxford, who oversees the entire progression, you can rest assured knowing you will receive a reviewed, certified, and 100 percent-compliant project.
And we keep you in the know
We at Oxford don’t just manage your project; we keep you informed. Via a secure, online portal which our customers have access to 24/7 with password protection, you are able to monitor your commercial real estate project just as we are doing on our end.
As a client, you will receive automated email updates notifying you of any and all progress. Even more, all of your documents remain available through our online portal for five years, and you will have access through the aforementioned login credentials. We operate from a high-availability secure system architecture that is fully customizable for the access and security levels you require. You will also have access to quarterly reports showing client and market/industry data.
We’re familiar with the system
The commercial real estate industry is arguably one of the most fast paced trades going, especially when it comes to changing rules and regulations regarding compliance issues. Luckily, AMCs have extensive training and designated quality control departments to ensure that all appraisals are conducted properly, and that the data collected is presented accurately. After all, a job is never done if it’s not done correctly. At Oxford AMC, we oversee and pursue the completion of your project with the utmost efficiency.
AMCs go the extra mile
On top of offering compliant appraisals, AMCs should provide other valuable products and service that will assist their clients and cohorts in creating a better overall operation. At Oxford, we offer services such as reviewing client’s existing appraisal policies and conducting annual reviews of client’s approved appraiser list.
A lasting relationship
With an appraisal management company on your side, not only do you have a relationship with your personal property appraiser, but also the reputation and skills of the entire AMC to assist you with all of your real estate needs.
With more than two decades of professional experience, Oxford appraisal Management Company has worked with both lenders and regulators to offer unmatched third-party appraisal management expertise. If you’re in the market and looking to uncover the true value of your commercial property, there is only one Appraisal Management Company to call! Get in touch with the trustworthy, reliable experts at Oxford AMC today!