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RICHARD GRECO APPRAISALS
Real Property Appraisers and Consultants
1803 Radcliff Avenue
Bronx, New York 10462
718-518-8588 (Office)
718-319-0720 (Fax)
www.richardgrecoappraisals.com
REQUEST FOR "COMP CHECK" AND
MEMORANDUM OF UNDERSTANDING
FHA, VA, CONVENTIONAL, RESIDENTIAL AND COMMERCIAL APPRAISAL SERVICES
SERVING THE STATES OF NEW YORK AND CONNECTICUT
Dear Professional Mortgage Loan Officer:
As a professional courtesy, RICHARD GRECO APPRAISALS will be more than pleased to assist you with a "NEIGHBORHOOD VALUATION ANALYSIS A/K/A COMP CHECK." However, before we can assist you with such services, there must be a clear understanding as to what a COMP CHECK is.
As defined by this office and for the purpose of the intended use of a comp check, a comp check is nothing more than a scan of the neighborhood the subject property is located and a report of value activity with 3 months to 12 months prior to the date of your request so to provide you with GENERAL INFORMATION of sales in the described neighborhood further identified by US Postal Zip Code and correlated to public record valuation data so to present an analysis to you of the value range of real property sales within the neighborhood identified within the zip code provided.
Under no circumstance is the analysis provided to you for the specific address you have provided to be considered an appraisal, valuation or value estimate of any the property identified or any specific property. According to the Uniform Standards of Professional Appraisal Practice an appraisal of real property is provided only upon the completion of the appraisal process. Therefore, the analysis we provide is not to be misconstrued, misinterpreted or misunderstood to be an appraisal, value estimate or valuation of any property or the neighborhood.
By endorsing this form YOUR AGREE that in order for any appraiser to determine the value of any property, the appraisal process must be completed. PLEASE PRINT AND FAX THIS FORM TO 718-319-0720. UNDER NO CIRCUMSTANCES WILL ANY COMP CHECK BE PERFORMED WITHOUT A FULLY ENFORSED COMP CHECK REQUEST, SIGNED BY THE REQUESTING LOAN OFFICER.
Therefore, it is requested that you complete and submit the information required below and we will either e-mail to you or call you with our findings. If you are a property owner, please refer to the VALUATION RESEARCH button on pages of this web site.
Mortgage Company/Lender requesting comp check:_______________________________________________________________
Loan Officer Name________________________________________Telephone#_______________________________________
E-Mail Address of Loan Officer________________________________________________________________________________
Subject Property Address____________________________________________________________________________________
City/Town/Village_____________________________________________________________________Zip Code_____________
Owner/Borrower Name: Last Name_________________________________ First Name __________________________________
Section______________________________Block_____________________________Lot #______________________________
LOAN OFFICER MUST SIGN:
I understand that the analysis represented herein is that of property sold within the neighborhood of subject property and under no circumstance represents the value of the property identified above. I further understand that the analysis is not an appraisal, valutation estimate of valutation all of which require the completion of the appraisal process.
Loan Officers Signature____________________________ Date________________________________
Value range of neighborhood is from__________________To__________________________________
By: Property Researcher_____________________Date__________________________
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