NMS offers many appraisal services, standard and customized. For most appraisals, NMS subscribes to
general industry standards and requires appraisals to be completed in
accordance with them. In the event that
an appraisal order carries special requirements, they will be communicated to
you at the time of the order.
NMS provides custom property inspection services, including inspections by licensed inspectors and real estate agents. Presently, NMS specializes in servicing special cases, such as cases where a lender has lost contact with a borrower or occupant and cases involving substantial property damage. If you are assigned an inspection order, precise requirements will be forwarded to you at that time. NMS’ general guidelines for completing inspection orders are as follows:
These standard
inspections generally require photographic and written documentation of all
structural defects and hazards, in addition to a description of the property’s
physical and occupancy status.
These are general
inspections performed at stated intervals.
Simple inspections
to determine state of occupancy.
These require
attempts to contact a borrower or occupant with whom the lender has lost
contact or who is not responding to lender correspondence.
These focus on the
potential marketability of the property, in addition to critical safety
hazards, in anticipation of potential lender ownership of the property.
Performed after a property has suffered major damage, these are to provide lenders with information affecting decisions on potential property foreclosure and marketing, as well as to calculate monetary damage for insurance and repair purposes.