SAMCO Appraisal Management Company has vast experience in residential appraisal order management and review. We have streamlined our process for quick turn times with a focus on compliance at all levels. Our turn time management and monthly reporting ensure we constantly strive to achieve the quickest turn times for our clients.
The Residential Full Order Process
SAMCO understands the importance of time management; when assigning an order to the appraiser, they have a maximum of 24 hrs. to accept or decline the assignment before re-assigning the order. However, on average, orders are usually accepted within 8-12 hours and are well on their way to the scheduling stage. Once an assignment is confirmed and the appraiser has all the needed information for scheduling, an inspection appointment is typically made within 48 hours of the assignment. When the assignment is complete and uploaded into the ordering system, the review process starts with checking client requirements and performing a 42+ point USPAP audit checklist for quality assurance. Then, a quality and professionalism score is provided for each assignment as required.
When the order is completed, SAMCO provides the appraisal report and the Compliance Certificate, which is required. A 42+ Point USPAP audit checklist, a full disclosure invoice (that lists our fee independently from the appraiser’s fee). We also offer several additional services at no cost to you. Borrower delivery is one service that provides all required notifications for electronic delivery. SAMCO is also integrated with the UCDP and EAD to upload any reports for you and provide the final SSR reports.
SAMCO is with you EVERY step of the way. We also handle your ROV requests and any UCDP hard stops.
SAMCO Residential Appraisal Features
With every standard order, you will receive;
- Order Management (updates and billing)
- 42+ point USPAP audit checklist
- Reconsideration of value process (if needed)
- Borrower delivery (optional service included)
- UCDP upload (optional service included)
- EAD upload (optional service included)
- Monthly and yearly reporting
- Quality and professionalism score
- Compliance certificate
Optional add-on features
There are no initial integration setup fees; however, the systems listed below may have an additional platform fee to run through their platform once integrated. This cost is passed to the lender if utilized.
- Encompass
- Mercury
Product Forms & Descriptions
The 1004 form is probably the most common and widely used appraisal form for residential appraisals. It is used for single family residential properties. This form is for when an appraiser is required to do an interior and exterior inspection. It is typically used for a refinance or purchase transaction.
Here are a few examples of what would be considered a Complex Assignment.
- Waterfront
- Multi-Million properties.
- Excessive acreage.
- Ponds and/ or multiple outbuildings
- Extreme rural location ( limited access locations) - example accessibility by boat or by snowmobile/ shoe snowing in. ATV access only areas.
This is an all in one quote for a 1004 + 1004D. The cost will be higher upfront, but it will include one 1004D when it is ordered. This product is also a non-refundable order type as the appraiser is paid ahead for the 1004D part of the assignment.
This is an all in one quote for a 1004 + 1004D. The cost will be higher upfront, but it will include one 1004D when it is ordered. This product is also a non-refundable order type as the appraiser is paid ahead for the 1004D part of the assignment.
Here are a few examples of what would be considered a Complex Assignment.
- Waterfront
- Multi-Million properties.
- Excessive acreage.
- Ponds and/ or multiple outbuildings
- Extreme rural location ( limited access locations) - example accessibility by boat or by snowmobile/ shoe snowing in. ATV access only areas.
This form has no physical inspection of the subject property; the appraiser uses prior URAR or hybrid, MLS, public record data, or other sources.
This report is used for appraising manufactured homes. A complete 1004C appraisal report including; floor sketch based on an exterior measurement; exterior and interior photos of the subject, and street view. There is also a section for HUD Plate information within the form.
The 1025 form is also a residential form, but it is for a 2-4 unit property. This form is designed with different sections, which includes a rental comparable section, and sales comparable section.This is a typical investment form.
The 1073 form is typically the second most commonly used appraisal form for residential properties. It is utilized for condominiums, and serves the same purpose as a 1004 form, but it is modified for condominiums. It includes fields that relate specifically to the condo project the subject is in, and other condo attributes that a single family home does not have.
The 1075 is basically the same as the 1073 form for condominiums but it is for exterior-only inspections.
The 2055 form is an exterior only form for single family homes and it is considered a drive by appraisal assignment.
This form is a drive-by inspection of bare land with subject photos and comparable market data analysis of the subject property.
The 1004D Completion or 1004D Update is utilized when a client wants the appraiser to either a) verify that the value has not changed since the effective date of the appraisal, or b) go back and re-inspect the property to verify that something has been repaired or replaced. This is especially applicable with new construction 1004 assignments or “subject to” assignments that require the next step in the order process.
See Appraisal Update above.
See Appraisal Update above.
See Appraisal Update above.
This form is used to provide an estimated market rent for the subject.
This form is used to estimate the operating income associated with income-producing property.
A complete 1004 appraisal report, including a list of any required FHA repairs; floor sketch based upon exterior measurements; exterior and interior photos of the subject, including the street. The report will also include the following FHA points; FHA file number, FHA certification statement, and photos of the attic and crawl space if applicable.
A complete 1004 appraisal report, including a list of any required FHA repairs; floor sketch based upon exterior measurements; exterior and interior photos of the subject, including the street. The report will also include the following FHA points; FHA file number, FHA certification statement, and photos of the attic and crawl space if applicable.
Here are a few examples of what would be considered a Complex Assignment.
- Waterfront
- Multi-Million properties.
- Excessive acreage.
- Ponds and/ or multiple outbuildings
- Extreme rural location ( limited access locations) - example accessibility by boat or by snowmobile/ shoe snowing in. ATV access only areas.
This form is the same description as a 1004C-70B Manufactured form with all FHA info required.
This form is the same description as a 1025-72 /1004MC Multi-Family form with all FHA info required.
This form is the same description as a 1073-465/1004MC Condo form with all FHA info required.
SAMCO also works with our clients on custom products, including review only projects, research and consultation projects, overflow and standard review work and even creating new or hybrid report types.
Quick compliant appraisals
Order Your Real Estate Appraisal Today!
A SAMCO real estate appraisal is a great way to get a quick in-depth assessment of a property's value. To learn more about engaging in our Residential or Commercial appraisal services.