|Full Report Instructions|
Full Report Guidelines
Delivery: Reports are due within 24 hours (holidays and Sundays are excluded) after access information is given on the order.
Compensation: We pay $100 based on above delivery. Note: reports received after the above delivery will not be compensated. So if you are unable to complete a report in the time frame, please do not accept the order.
Please upload a copy of your invoice when you complete the report. Invoices will be processed and you will receive a check within 3 weeks. If you do not see a check you can contact our accounting department directly at firstname.lastname@example.org. Please reference the subject property address in your email and make sure you indicate who to make the check payable to and the mailing address on the invoice.
Our Purpose: We want you as the agent to give us your estimate of value so if we take the property back, we already know who is going to sell it for us and how much they think they will sell it for. We want you to give us an idea what you think we can sell this property for in 120 days. What are we going to have to do to sell it in the highest price we can get for it in 120 days? How much would you spend in fix up costs? We want you to complete your value conclusion as if the repairs listed are already completed to the property. In the event that we take this property back you will already know what you are doing and we already know what you would sell it for. We recognize that things can change in 60-90 days, but it shouldn’t change too much. It is really that simple! At the end of the day that is what we are looking for.
Don’t let the report control you from giving us the real value of what you can have this property sold 120 days from today once the repairs are completed. In other words, we want an After Repair Value if the repairs are completed. We want you to give us a value as if the listed repairs are already completed. On the planned repairs, we would like you to tell us how much it would cost you to have the repairs completed if you where hired as the agent to sell the property. Also, if there are any additional repairs that you think would be required to pass FHA or that MUST be done to the property, please note those as well and give a value estimate. We need you to take pictures of every room in the home as well as pictures of all the damage. Please don’t over analyze this; what will the home sell for if the outlined repairs are done with a commission check in your hand 120 days from today? Please provide any feedback about the area including percentage of REO, Fair Market, rental percentage presence in the area, depreciation, location such as on busy street, near railroad tracks, commercial etc.
Please be advised; There is a good chance we will be calling you to go over the report as well, so please list the very best phone number for us to contact you. This call will only be to further discuss your report and pose any additional questions we might have. We will not ask you to change your report in any way.
a. All Fields on the DHM Evaluation form completed
b. Attach all full MLS listings for Active Comparables
c. Attach all Full MLS for Sold Comparables
i. Subject front
ii. Subject street view
iii. Address verification photo with you in it! We require you to take a picture of you in front of the number on the house, mail box or whatever. We want to see your face with it. It does not have to be a great picture but something we can verify, A) it is you and B) it is the correct house.
**Please be advised, the address verification must show the numerical address on the subject. If address is unavailable, commentary stating the address is not available and how you verified the correct subject property is required. **
iv. Pictures of EVERY room
v. Pictures of any/all damages or deferred maintenance upon the inspection
e. Description of all Damage Pictures
f. Map of Area with comparables
We want you to look at things from a Home Buyer’s perspective. Basically, what will a Home Buyer be willing to pay for this home once the repairs are made to the property? So what price do you know this property will sell for once the repairs are done? We are not looking for a low ball price but a realistic price that it will sell for in 120 days.
So we want to know what price you are extremely comfortable this property will sell for once the work is complete.
As far as repairs, we want you to determine the repairs that need to be completed to the property to bring it to AVERAGE fixed up condition for the area. Then imagine these repairs are already complete when you are arriving at the value. When you are giving the price to get the repairs done, we want you to estimate the cost if we had you hire the contractor(s) to get the outlined work done on the property. In the event we end up with the property, we will be having you oversee the work to get it completed. We expect the estimates to be reasonable.
On the report there is a small section to complete for an As Is Value. Here again we are looking for a realistic price that the property would sell for in 120 days in the current condition. You DO NOT need to provide any comparables.
We appreciate your prompt and timely completion of the report.