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We have put together some resources to help you answer some of the common questions:
Q: How can I get a quick check on the value?
Q: What are all the boring details of HVCC (Home Valuation Code of Conduct)?
Q: Are the states adding rules and regulations about the appraisal process?
Q: How come the owners of the company answer the phone sometimes?
Q: What does SimQual mean?
Q: Can we order Title through SimQual?
Q: Is there a benefit to my appraisers being registered with SimQual?
Q: Can SimQual manage my FHA appraisals as well?
Q: How can I get a quick check on the value?
A: HVCC (Home Valuation Code of Conduct) and USPAP (Uniform Standards of Professional Appraisal Practice) guidelines stipulate that we are unable to provide pre-comps. If we give you a value, that would be an appraisal. Without inspecting the condition of the property involved, we are unable to estimate the value.
Okay, all that being said, there are number sites (see the links on the right) that can give you a ballpark on the value of the property. We have not found them to be very accurate but they can give you a general idea. I should say again though, these sites have not proven to be very accurate. I encourage you to not make any decisions based on the values they provide. Only a real appraisal gives you a value you can count on.
Q: What are all the boring details of HVCC (Home Valuation Code of Conduct)?
A: Please refer to the links in the right column for all the gory details…
Q: Are the states adding rules and regulations about the appraisal process?
A: They sure are. At the time of this writing, over 30 states had enacted regulations that are stricter than those created by the federal government. All but 1 or 2 of the remaining states have legislation or regulation pending regarding appraiser influence. Please refer to the Rules and Regulations page to get the full story.
Q: How come the owners of the company answer the phone sometimes?
A: We like to. It is the best way to stay in touch with our clients and really understand how well the process is working for them. We also consider talking with our clients the best part of the day.
Q: What does SimQual mean?
A: SimQual is the combination of the two words than define or processes and systems – Simple Quality.
Q: Can we order title through SimQual?
A: Many old-style Appraisal Management Companies are owned by title companies, larger lenders or banks. If you have dealt with these traditional AMCs then you know that no one has yet managed to be good at both disciplines. The perceived benefits from "bundled services" are far outweighed by the fact that appraisal management and title management are very different services that require different expertise, training, and technology to effectively service your clients. Not to mention, these ownership structures are currently under scrutiny by the Fannie/OFHEO agreement for potential conflict of interest concerns.
SimQual is exclusively focused on Appraisal Management. It allows us to stay true to our Core Values and provide the best possible service to our clients.
Q: Is there a benefit to my appraisers being registered with SimQual?
A: Absolutely. When your appraisers register with SimQual they will be entered into the order assignment rotation for their coverage area. They will then get appraisal work from other SimQual clients that they probably would not have gotten otherwise. How much time, aggravation and money do they save not having advertise for any of this work or maintain the client relationships. It is a win-win situation!
Q: Can SimQual manage my FHA appraisals as well?
A: Definitely. You can order your FHA appraisals through the same great platform you use for your conventional appraisals. With SimQual, you also get to choose your appraiser for your FHA work. You simply select your preferred appraiser when you are placing your FHA appraisal order and it is done. Then you get to enjoy all the benefits of using SimQual for all your appraisals! The same terrific service, easy order process, quality reviews, appraisal storage, etc.
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