What is a property evaluation? A property evaluation helps determine the market value of real property.
When do I need to order a property evaluation? Title XI appraisal regulations require regulated institutions to obtain evaluations for commercial and residential real estate-related financial transactions of $500,000 or less. Evaluations must consistent with safe and sound banking practices unless the institution chooses to obtain an appraisal for such transactions.
Evaluation requests will service your needs for renewals at a much lower cost than an appraisal. Appraisals are required for 1-4 family residential transactions over $400,000, commercial real estate-related transactions over $500,000 and QBLs over $1,000,000.
Do you need to order an appraisal instead? Click here.
Order an Evaluation
Submit evaluation requests using the form to the right.
Inspections can be included with an evaluation at the client’s request; however, it may increase the assignment fee. If a client chooses to perform their own inspection, they must personally inspect the subject property and upload photos of the subject. The photos must be clear enough to illustrate the type of construction and property condition.
If you have any questions or need any assistance, please send us a chat or call 512-482-8800.