Residential Appraisal and Property Inspection Document (RAPID)
Since 1940, Forsythe Appraisals has been a leader in residential valuation innovation. Our newest solution is the Residential Appraisal and Property Inspection Document, or RAPID. The product combines the core competencies of two of the nation's premier residential real estate companies by taking advantage of the extensive appraisal expertise of Forsythe Appraisals, coupled with the unparalleled profesionalism and experience of national home inspection leader Mueller Reports.
Combined, Forsythe Appraials and Mueller can deploy nearly 1300 W-2 employee appraisers and home inspectors in metropolitan markets from coast to coast. Every Mueller field representative has been specifically trained on the requirements of completing an exterior inspection of a property for use in an appraisal assignment and they will work collaboratively with Forsythe Appraisals' highly experienced nationwide team of appraisers to ensure that RAPID provides customers with exceptional quality, fast turnaround times, and an extremely thorough and credible property valuation, all at highly competitive pricing.
What is RAPID?
- RAPID is a hybrid residential valuation solution that incorporates the combined expertise of Mueller home inspectors to do field reviews of the property and Forsythe Appraisers to provide the analysis and opinion of value.
- Mueller staff performs the field inspection and then hands that data off to the Forsythe appraiser who will then perform a desktop appraisal.
- All reports include 3 sales comparables.
Regulatory Compliant
- There are a lot of creative alternative valuation products emerging in the marketplace. RAPID is USPAP and Interagency Guidelines compliant and completed by appraisers with local geographic competency.
- We don't rely on historic images to be compliant with the requirement for "real time condition" (Interagency Guidelines Section XII). Property is observed by a professional inspector.
Cost-Effective
- Cost is an important factor in Consumer Lending. Many lenders are running multiple AVMs and BPOs, or just defaulting to traditional full drive-by appraisals.
- RAPID appraisals are a cost-effective alternative.
Fast
- Speed is critical for your Consumer Lending valuation needs. RAPID improves on the typical turn times by utilizing a professional inspection firm with 1200+ employee inspectors to provide a real-time exterior inspection.
- The appraiser receives the inspection report and photos to complete the USPAP-compliant appraisal from the desktop. This can reduce turn times by up to a day.
Professional
- 100% of valuation is done by licensed or certified residential appraisers.
- 100% of inspection is completed by trained staff inspectors, not by someone unfamiliar with factors impacting condition and marketability.
- Valuations are completed by your neighborhood Forsythe residential staff appraiser from the local branch office of America's largest independent appraisal firm, with more than 75 years of experience providing high quality, well-supported, ethical opinions of value on residential real estate.
This is just a brief summary of the benefits and advantages of RAPID. For more details please contact us at 651-486-9550.