For-Sale-By-Owner (FSBO) / Pre-Listing Services

It's very hard to be objective about your own home because of your emotional attachment to it. A Professional 
Appraiser is objective and will tell you what you need to know, not just what you want to hear. In addition to helping 
you set a realistic selling price so your home will attract buyers, a professional appraisal is very valuable as a 
negotiating tool once you have a potential buyer. It gives you something concrete to show your buyer. It's an 
independent third party's opinion of your home's value, and not just you saying how much your home is worth. Potential 
buyers know you have an emotional attachment to your home and will be far more likely to give credibility to a 
professional appraiser's value opinion than yours.

If you’re working with a real estate agent to list your property, more than likely they’ll provide you with a Comparative 
Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the 
“Listing Price".This step is vital if you're going to maximize your profit and minimize the home’s time on the market.

But even if you're working with the most experienced real estate agent, it's probably in your best interest to have an 
"objective" third-party's opinion of value prior to signing a Listing Agreement.And that’s where we come in. We can 
provide you with a pre-listing appraisal so both you and your agent have an accurate description of your home's 
features and a detailed analysis of the most recent and similar "comparable sales" or as they're commonly called, "Comps". In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal can:

Be a very valuable negotiating tool once you have a potential buyer
Impress buyer’s with written proof of your home’s condition inside and out
Make yourself aware of problems and eliminate last-minute repair hassles that might delay a closing
Decrease the chances of unknown problems that cause sales to fall through
Eliminate the wait for the buyer or their mortgage company to get the appraisal done on their own
Many people are surprised when they find out that the market value of their home is much more than they thought, so 
investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they 
thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal 
helped them to realistically price their home in order for it to sell.  An overpriced home will not attract buyers, which 
means no offers and no closing and that you have wasted valuable time, money, and efforts.

Improvements to add value
In addition to “how much?”, there may be other important questions to ask yourself before listing your home.  
Questions like ''Would it be better to paint the entire house before we sell it?”, ''Should I put in that third bathroom?'', 
''Should I complete my kitchen remodel?'' Many things which we do to our houses have an effect on their value.  
Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may 
not add nearly enough to the value to justify the expense.

We can step in and help make these decisions. Unlike a real estate agent, an appraiser has no vested interest in what 
amount the house sells for. Our appraisal fees are based on efforts to complete the report and not a percentage of the 
sales price. So a professional appraisal can often help homeowners make the best decisions on investing in their homes 
and setting a fair sales price.

Consultation

Maybe you feel like you don't need an "appraisal" but you'd still like some help gathering local property and sales data. 
We can provide low cost sales and listing reports that will guide you through the maze of raw data. Our reports help 
you to make an informed buying decision. We understand the complexities of buying a home and know what you are 
going through and will do our best to make it easier for you by giving you a high quality, professional appraisal that 
you can depend on!

When you order a report from us, you can expect. . . .

Prompt response to your initial inquiry: We will give you personalized information for your particular appraisal need. 
Just tell us your situation and we will make suggestions. Quick turnaround time: Typically one week or less from the 
date the request is received. If you've chosen to receive a copy of your appraisal or consulting report via the Internet 
(EDI), you'll receive it within MINUTES of its completion.
Appraisal and consulting reports formats to suit YOUR needs: When it comes to appraisal and consulting, "One size 
does NOT fit all!" We offer a variety of report types and delivery methods. Express mail too slow? We can deliver your 
report attached to a standard email, or notify you of an Internet site to download your report, the MINUTE it's 
completed!
Quick response to follow-up questions: Our reports are clearly written, understandable, and meet or exceed the Uniform 
Standards of Professional Practice that governs the appraisal practice. If you have any questions regarding your 
appraisal, after you've read the report, we encourage you to email or call us!

Homeowners need appraisals or appraisal reviews for a variety of reasons, including a mortgage refinance, home equity 
loans, Pre-listing services, and PMI removal. When you order an appraisal or review from us, you can rest assured that 
you will get the best in professional service, courtesy, and quality.

Refinance / Home Equity

Be sure that you request us if your lender asks you for YOUR choice of appraisal firms. More than likely we are already 
on their "approved list", and if not we will quickly provide your lender with the necessary documentation to become 
approved.

A popular money saver for homeowners in the last few years is to get the PMI removed from their mortgage loan, thus 
saving them money on their monthly payments. PMI stands for "Private Mortgage Insurance". Once your mortgage loan 
amount is down below 80% of the value of your home, in most cases you can apply to the lender to have the PMI 
removed from your loan, which will make your monthly payments go down. We are experienced in helping folks just like 
you rid themselves of unneeded and unwanted PMI insurance.

Foreclosure/REO appraisal

Homes in foreclosure and homes that have reverted to your institution's ownership present special appraisal 
challenges.

For a property in foreclosure, you may need to know the difference between fair market value and "quick disposition" 
value, to know your potential charge-off liability.
snapshots of fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that 
understand your timeline. 

Owners of property in foreclosure, of course, present special challenges. They may be unwilling to allow an inspection 
of the property. If they have abandoned the property already, they may have neglected care of the home for some time 
-- or worse, caused damage. We have the experience and training to deal with the special dynamics of a foreclosure 
appraisal, and you should not hesitate to rely on us.

For a property that has already reverted to Real Estate Owned, you likewise will be interested in a quick disposition. 
But you may want to know and compare three values: As-is, as repaired, and "quick sale." These represent the value of 
the property without any work done to it, with the work required to make the property marketable to full market value 
commensurate with competing properties in the area, and, somewhere in-between, with minimal investment in repairs 
-- selling the property quickly, probably as a "fixer-upper." Again, we understand your timeline and the unique 
circumstances of an REO property, as well as the special information you'll need -- competing listings, market trends, 
and the like.

Investing in residential property? Protect yourself against illegal "flipping"

When you're considering investing in rehabilitated residential property, you're making a smart choice. Real estate 
values have been climbing at the same time demand for homes has been increasing — an impressive combination.

Often, people and companies that sell rehabilitated real estate buy a dilapidated property, put a lot of money and 
sweat equity into it to make it attractive to a buyer, and then reap the reward when the property is sold for a lot more 
than the original buyer paid for it. There's nothing wrong with this; on the contrary, it makes more housing available at 
a time when it's in demand. And as noted, it's often a good investment choice for the eventual buyer.

But before you invest in a rehabilitated property, you should obtain a professional appraisal, from an appraiser with 
your interests in mind. Normally an appraisal will need to be performed on behalf of the lender, by an appraiser working 
closely with sellers, brokers and agents. Too often lately homes are "flipped" for considerably more than they were 
recently paid for without any substantial improvements to justify the higher price. You'd be the one left holding the bag 
— shouldn't you have someone on your side making sure your money is being invested wisely?

It's easy to protect yourself. Hire a professional appraiser to ensure the property has had the improvements put into it 
that justify the asking (or agreed upon) price. If you're buying more than one property at a time from the same buyer, 
it's even more important to have them appraised by a professional working for you, instead of another party to the 
transaction. There are cost effective ways to protect yourself in an investment into many properties. We perform 
"drive-by" appraisals, sanctioned by housing giant Fannie Mae, which can be more cost effective than a full appraisal 
with an interior inspection. When combined with the expertise of a licensed home inspector, you should be able to buy 
with confidence that everything is as represented by the seller.

It's smart to always have an inspection done before closing on a property. It's equally important though to obtain an 
opinion of value from an appraiser. An inspector will tell you if everything that is present in the structure is functioning 
properly, what repairs may need to still be done, and whether there are any safety or soundness issues with the 
property. An appraiser can translate that into dollars. As rehabilitated, is the property worth what it's selling for? If 
something unexpected happened and you needed to sell right away, would you be able to recoup your investment?

As an investor, you need and deserve to know. Protect your interests with the help of a professional appraiser. 

Tax Appeal/Assessment appeal services

Most localities determine your property tax burden based on an ad valorem assessment of the property's value. 
Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and 
sometimes it may seem as though your assessment is too high.

Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local 
taxing authority you still feel as though your property was overvalued, a professional, independent, third-party 
appraiser is often your best bet in proving your case. That's where we come in.

There are as many different procedures for appealing assessments as there are property taxing districts, so it's 
important to enlist the help of a professional appraisal firm that's experienced and trained in the ins and outs of your 
particular jurisdiction. 

Please note: It makes sense to do your own research before determining whether to go forward with a property 
assessment appeal, especially before you make the decision to hire a professional appraiser. However, according to the 
Uniform Standards of Professional Appraisal Practice (USPAP), we are not allowed to take "shortcuts" -- i.e., your 
research -- and use it on its face as part of our independent evaluation. When you hire us for an assessment appeal, 
you're commissioning  an independent, third-party professional appraisal report. As such we do our own evaluation, 
beginning to end. If you're right that your property has been overvalued, an independent report such as ours will be 
even more persuasive than any other evidence you can marshal on your own. But it depends on our ability to do the 
work independently.

Sometimes, you will have a hearing on your assessment appeal and will need for the appraiser you've hired to testify 
on your behalf. Be assured that at Versatile (973) 427-2223, we are able to professionally and persuasively testify at 
appeal hearings.  Browse our website to learn more about our qualifications, expertise and services offered.

Finalizing a divorce involves many decisions, including "Who gets the house"? There are generally two options regarding 
the house - it can be sold and the proceeds divided, or one party can "buy out" the other. In either case, one or both 
parties should order an appraisal of the residence. Divorce appraisals require a well supported, professional appraisal 
that is defensible in court. When you order an appraisal from us, you are assured that you will get the best in 
professional service, courtesy, and the highest quality appraisal. We also know how to handle the sensitive needs of a 
divorce situation.

Attorneys and Accountants rely on our values when calculating real property values for estates, divorces, or other 
disputes requiring a value being placed on real property. We understand their needs and are used to dealing with all 
parties involved. We provide appraisal reports that meet the requirements of the courts and various agencies.

As an attorney handling a divorce, your needs oftentimes include an appraisal to establish fair market value for the 
residential real estate involved. Often the divorce date differs from the date you order the appraisal. We are familiar 
with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair 
Market Value estimate matching the date of divorce. The ethics provision within the Uniform Standards of Professional 
Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.

Date of death valuations

Estate tax liability. Disposition of assets under a will or in probate. There are many situations -- none of them lacking 
stress and complexity -- where you might need an appraisal of property that states an opinion of what the property was 
worth on a date some time ago, rather than when the appraisal is ordered. For estate tax purposes or disposition of 
the assets of a decedent, a "date of death" valuation is often required. (Sometimes, the executor of the estate may 
choose to have the date be six months after the date of death -- but the same principles apply.)

Attorneys, accountants, executors and others rely on us for "date of death" valuations because 
such appraisals require special expertise and training. They require a firm that's been in the area for some time and can 
effectively research comparable contemporaneous sales. 

Real property isn't like publicly traded stock or other items which don't fluctuate in value very much or for which 
historical public data is available. You need a professional real estate appraiser, bound by the Uniform Standards of 
Professional Appraisal Practice (USPAP) for a high degree of confidentiality and professionalism, and you need the kind 
of quality report and work product taxing authorities and courts need and expect. 

Settling an estate is an important and sometimes stressful job. As an executor you have been entrusted to carry out 
the wishes of the deceased as swiftly and exactly as possible. You can count on us to act quickly and with sensitivity 
to the feelings of everyone involved.

Attorneys and Accountants rely on our values when calculating real property values for estates, divorces, or other 
disputes requiring a value being placed on real property. We understand their needs and are used to dealing with all 
parties involved. We provide appraisal reports that meet the requirements of the courts and various agencies.

Settling an estate usually requires an appraisal to establish Fair Market Value for the residential property involved. 
Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and 
requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate 
matching the date of death. The ethics provision within the Uniform Standards of Professional Appraisal Practice 
(USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.

All too often, people do not fully appreciate the need to have a detailed real estate appraisal prepared in support of 
the numbers being used in documents filed with revenue authorities.

Opinions of value used in documents filed with the revenue authorities should be supported by a detailed report as to 
how the appraiser arrived at his conclusions. Such a report will certainly demonstrate to the authorities that the 
numbers used are well founded and substantiated.

Having a professional appraisal gives the executor solid facts and figures to work with in meeting IRS and state agency 
requirements. It assures peace of mind to everyone concerned because we are there to stand behind the appraisal if it 
is challenged.

Often, the ownership of a property isn't cut and dried. Bill Jones might own a property outright, by himself, 
unencumbered by liens or mortgages, leases or easements.But he might also own it as a "joint tenant" with his wife, 
Mrs. Jones. The Jones' may lease some of the property to another party. They may have signed an agreement to give 
up any subsurface or mineral rights they have in the property in exchange for cash. There may be a restriction in the 
Jones' deed stipulating that the property must never contain a structure more than two stories in height. There are a 
thousand other ways the 100 percent "bundle" of rights to a parcel of property might be distributed.

Anything less than full ownership -- called "fee simple" in deeds and conveyances -- by a single person or entity is a 
"partial interest."  We appraise partial interests all the time. It's a specialty and 
discipline that takes unique expertise and training, and you can be assured we're well qualified to deliver an opinion of 
value on a partial interest.

In divorce or dissolusionment of a partnership proceedings, you might need to fairly value one party's interest in real 
property. Sometimes, particularly in partnership situations, it's not simply a matter of appraising the entire property 
and dividing by the number of owners. A fractional share of property may sell at a discount to reflect lack of control, 
costs of and barriers to sale. You need the judgment of a professional appraiser.

You might need the value of rents or leases on a property, but not the underlying value of the real estate. This is more 
complicated than it sounds, and isn't just a matter of how much a tenant is currently paying. A professional, well 
trained appraiser will examine rents in the market to determine fair market value of rents or leases. If a tenant is 
paying below market value, they might be able to sublet at a profit. If they're paying over market value, their likelihood 
of moving on when the lease term is up increases. There are many things requiring the professional judgment of an 
appraiser that factor into the calculation.

You might need to know the value of a proposed or existing easement.  An easement is a right to use property, without 
owning it.How much is it worth to your neighbor to build a driveway across part of your property for entry to and exit 
from his property, rather than an alternate route that may be more costly to build?

You might need an appraisal of your (or your customer's) interest in a timeshare or condominium.

Because there are so many ways the "bundle" of rights to property can be divvied up, when you order an appraisal you 
might need a partial interest valuation and not even know it. You should be sure the company you hire is qualified to 
perform partial interest valuations. Browse our website to learn more about 
our qualifications, expertise and services offered.

We offer a full range of Real Estate Appraisal services, with experience in many types of property. We are also 
experienced in litigation support and expert witness services. Clients who have used our expert testimony services 
include government agencies, tax entities, financial institutions, legal and accounting firms and many other businesses. 
In many cases, our independent, supportable analysis has allowed clients to settle cases without going to court.

An appraiser must remain unbiased in performing an appraisal of a property. But we can consult with you and advise 
you about the relative strength of an appraisal presented by opposing parties. We can also perform additional research 
and analysis to support or discredit assumptions or conclusions.

Some examples of issues we have experience with include:

Valuation of "stigmatized" property
Valuation as of a date in the past
Valuation for condemnation and eminent domain cases
Effect on value of properties with history of flood
Estate settlement
Effect on value caused by insect infestation
Valuation for divorce, partnership, taxation issues etc.
With our experience and proven track record we are ready to take on any type of appraisal assignment and our 
appraisal values stand up under the most severe scrutiny.

It's not just a good idea -- and it's not just the law -- it's your constitutional right that if the government wants to 
condemn your property, or take it from you by means of "eminent domain," it must give you "just" compensation. That's 
where we come in.

The government is likely to have its own idea of "just" compensation, maybe based on a professional appraisal.  But an 
appraisal on your behalf, performed under the standards of the Uniform Standards of Professional Appraisal Practice 
(USPAP), is powerful -- and useful -- evidence of what you're entitled to, and protects your rights. 

It works the other way, too. We perform work for government clients needing to offer and provide "just" compensation 
in eminent domain cases. A USPAP-compliant appraisal is the best way to determine fair market value of any property.

If the above makes condemnation appraisals sound simple, that's not the case. There are many legal and procedural 
issues involved in an accurate condemnation appraisal. A federal condemnation will require a different analysis and 
report format than a state or local taking. And in any event, the jurisdiction proposing to condemn the property is likely 
to have its own rules for appraisal that must be followed. It is important to hire an appraisal firm that has experience 
and training in these types of valuations.

An eminent domain action may reserve certain rights in the property to the current owner. The government may petition 
to take only part of, or a partial interest in, the property. This requires the appraiser to value the "larger parcel" -- the 
currently undivided, contiguous property -- and the "remainder" of the property, or rights to use the property, that will 
be held by the owner after condemnation and factor that into the overall value of the taken property. For an added 
wrinkle, it will often be necessary for the appraiser to determine his or her opinion of value on the "remainder" before 
the taking and after the development or use prompting the taking, because they are likely to be very different.

Likewise, appraisers always consider a property's "highest and best use" when formulating an opinion of value. For 
many condemnation appraisals, it is necessary to consider the highest and best use of the property before taking and 
after the development or use resulting from the taking. Again, it is important to have a professional appraiser with 
experience and training.

Because an appraiser may often have to testify about his or her condemnation appraisal, it is important that certain 
steps in valuation methodology -- such as selecting and analyzing comparable sales -- be performed more thoroughly. 
You rely on your appraiser to know what's necessary, so again, it's important to select an appraiser/company that has 
experience and training.

We are ready and able to perform your condemnation/eminent domain appraisal. 
Browse our website to learn more about our qualifications, expertise and services offered.

Appraisal reviews

The Federal Reserve has recently reiterated that "financial institutions must have an effective, independent real estate 
appraisal and evaluation program," and that appraisers performing reviews should "have the knowledge and expertise 
to assess compliance with the Federal Reserves appraisal regulations and guidelines." We provide appraisal review services that are independent, qualified, professional and square with the 
Federal Reserve's guidelines.

Appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of 
the transaction, and whether the process by which the collateral valuation is obtained ensures independence and 
quality," the Fed says. They "should also indicate whether the appraisal or evaluation report is consistent with the 
engagement letter, which sets forth the scope of the appraisal assignment. "The Fed also notes that "some banks 
supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or 
greater-value transactions as a control to assist in detecting valuation problems."

In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms 
that are generally used for review services, and we can prepare an appraisal review on any of them. They include an 
appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Versatile (973) 427-2223, we 
are experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers. 

We understand what makes a quality appraisal and what the most common deficiencies are, especially in our home 
market. At the same time, we are professional enough to recognize that our competitors in our market are capable of 
doing a good job! The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as 
appraisal reports, and you can count on us to ethically evaluate appraisal reports performed by others. Those others 
may be reviewing our work, too! 

In short, you can rely on our independent judgment, because we offer professional, 
objective, ethical appraisal review services for our clients. Browse our website to learn more about our qualifications, 
expertise and services offered.

Have you just received a copy of your appraisal and you'd like to have a professional "double-check" it for accuracy or 
do you need a second opinion without the expense and delay of waiting for a whole new appraisal?

Appraisal Field Reviews: We'll check your appraisal for accuracy and provide exterior "field inspections" of the subject 
and comparable properties for maximum appraisal certainty. Perfect for any situation demanding a second opinion on 
value.
Appraisal Desk Reviews: In a hurry and just want to "double-check" the facts? We'll use our extensive Internet research 
capabilities and office files to deliver reviews with the highest degree of precision in the industry.

Time is money. This is never more true than when you or your company need an appraisal of your "old" home when 
you're relocating to a new area for work.

When you put your "old" home on the market and take advantage of your employer's relocation assistance, you're 
interested not in the "fair market value" of the home, but its anticipated sales price, typically as soon as possible -- 
usually not to exceed 120-180 days.But the need for speed doesn't mean the relocation appraisal is a more simple 
matter than your average lending/mortgage appraisal. Quite to the contrary. It entails special expertise, training and 
skills on the part of the appraiser or appraisal firm you select.

When we perform a relocation appraisal, we consider recent closed sales but also competing listings in the area as well 
as pending sales. We offer a forecast of the likely sales price you can rely on, considering the dynamics of the 
neighborhood at the time of the relocation. All relocation appraisals are reported on the standard ERC Residential 
Appraisal Report form, the industry's accepted relocation appraisal format.

If you're a relocation services company in need of a local appraiser, look no further.  Our professional relocation appraisal 
service is backed by our superior service, turn time, and knowledge of the market. Whether you're an employee or a 
service company seeking a relocation appraisal professional, please browse our website to learn more about our 
qualifications, expertise and services offered.