Builders instructed to cooperate with New York appraisers

Appraisers in New York and other states now hope to give more specific appraisal results for upcoming houses and buildings. NAHB has released an advisory document, which shall assist NY appraisers. The document is basically for builders who are working on various sites. NAHB, through this document, expects builders to cooperate with appraisers from various states including NY. Cooperation here means divulging all relevant information.

For example, during the appraisal of a home under construction, the NY appraiser needs to understand the materials which are being used in the building. Additionally, appraiser should be made aware of the property specifications, relevant sales data and more. Such details can only be offered by the builder and thus the need to stress upon cooperation.

Consequently, with the latest NAHB guidelines, we will be able to present a more specific picture. Therefore, if you now wish to obtain finance for a property which is still under construction, our NY appraisers’ team can suitably help. It is important that an experienced appraiser be selected because an under qualified naive appraiser might know little about the latest construction techniques and concepts like green buildings. NAHB too understands the importance of a well educated appraisal team. The association has thus urged builders to ensure that lenders rely only upon qualified appraisers in NY and all other states.