Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646
Why “Rush” All Appraisals? 5 Day Contingencies; Value
At JVM we order every purchase appraisal as a “rush” and absorb the rush-fee ourselves. There are two reasons for this:
(1) 5 Day Appraisal Contingencies: We typically get appraisals back in 3 to 4 days, and this allows us to always remove appraisal contingencies in 5 days. We know that doing so makes purchase contracts/offers much stronger.
(2) More likely to come in at value: We have discovered that appraisals are much more likely to come in at value (contract price) when ordered as a rush. We are not sure why, but we are more than willing to absorb a rush-fee for this reason alone.