HUD OWNED FORECLOSED HOMES

Heil Appraisals has been providing subcontracted appraisal services for the contractors of the HUD M & M (Management & Marketing) contractors since HUD first outsourced this function.  We have also provided appraisal services for the HUD owned properties as a subcontractor on a previous regional/national appraisal contract.  

Heil Appraisals has been staffed and trained with quality appraiser and office staff professionals experienced in performing HUD appraisals, reviews and the repair requirements for HUD owned properties.  With the development of new technologies over the years, Heil Appraisals has participated in the electronic ordering and delivery of appraisals over the internet.  Currently, we in the development stages of our own status tracking of assignments to provide clients with instant 24 hours a day, 7 days a week status checking capabilities through our web site on the internet.

Heil Appraisals currently uses online ordering, tracking and delivery systems developed by FNC, Inc. at  www.appraisalport.com.   This system could be easily utilized by any future M & M contract winner to complete the appraisal portion of the contract.  

Key to the successful disposition of a HUD owned property is a high quality appraisal.  An appraisal review process has been developed in order to minimize mistakes.  Although most mistakes are minor data entry or small software glitches. We try to have more than one person look at a report, which provides a fresh set of eyes to sift through the many unique HUD requirements for these appraisal types.  

Heil Appraisals has developed a comprehensive protocol to identify the required repairs and to provide a descriptive repair requirement list and VC Sheet.  This is extremely important since numerous appraisals are used to originate new mortgages when the HUD owned property is sold.  These descriptions limit the confusion typically experienced when the buyer and contractors try to comply with less descriptive repair descriptions.  

Finally, a well prepared appraisal for a HUD owned property limits the marketing time and produces enough bidders to maximize the return to HUD as well as limiting the holding time to the M & M contractor. 

Heil Appraisals and its staff looks forward to continuing it long term involvement in performing appraisals on HUD owned properties. 

Office Address:

 750 Route 73 - South, Suite 505, Marlton, New Jersey  08053 

Office Phone: 856-985-7799, Fax: 856-985-1771 

e-mail: info@heilappraisals.com

©2001-2004 Heil Appraisals