Guaranteed Fee Quote (GFQ)

IRR-Residential can ease the process of obtaining accurate appraisal fees …….Guaranteed!

Utilizing the IRR-Residential GFQ maximizes fee accuracy when subject properties are unique, complex, and/or rural.  Appraising complex properties may require increased appraiser fees due to increased time in inspecting the property, finding and analyzing comparable sales.

• Fee quotes will be responded to within the same business day, if they are received by 3pm Central Time.  Quotes received after 3pm Central Time will be responded to by Noon, 12pm, the following day.
• All quotes will be returned in writing and locked in for five (5) business days from the date of quote.
• IRR-Residential will GUARANTEE our written appraisal price quotes if the order is placed within the five (5) business day window.

Here’s how it works.

1. Lender completes the Guaranteed Fee Quote (GFQ) form below.
2. The GFQ form is electronically delivered to an IRR-Residential.
3. Fee quotes are obtained from local appraisers.
4. IRR-Residential completes the GFQ which is then e-mailed to the lender contact.
5. GFQ assignments are based upon a standard turn time for the appraisal report. (5-7 business days for non-rural areas and 7-10 business days for rural areas)
6. GFQ assignments are not eligible for RUSH orders

Complex Assignments

Indicators of a complex assignment can include properties with:

• Large square footage
• Unusual construction or amenities (solar, log home, indoor pool, etc.)
• Additional outbuildings capable of separate use or that generate income
• Gated community, in the mountains, near or on water, or other location that is not easily accessible
• Significant deferred maintenance or requires replacement or repair of physical curable items, e.g. roof, peeling paint, settlement or major cracks in foundation walls
• Large land size (typically more than 5 acres)
• Atypical property ownership, e.g. a cooperative in an area where that type of ownership is not prevalent

Rural Locations

• The definition of rural will vary, but for this purpose the property is located in an area that is sparsely occupied such that there are not many comparable sales or availability of appraisers.

Rental Properties

• For a single family non-owner occupied property determine if your loan programs require the 1007 Rental Comparison and/or the 216 Operating and Income Expense form and add appropriate fees.

For Assistance call: 866-538-8933