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IMPORTANT!
What if the occupant or listing agent asks me for the value?
NEVER DISCLOSE THE VALUE TO ANYONE!!!
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HOURS OF OPERATION
What are FAS hours of operation?
Monday thru Friday, 7:30AM to 5:30PM Pacific Time (PST).
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WEBSITE CONNECTION
I am having problems connecting to your website http://www.fasinc.com. What should I do?
There are several steps that you can take to troubleshoot your internet connection when attempting to access our website. Try the following: Does your homepage load when you connect to the Internet? If you answered yes, then try pasting this URL into the address in your web browser: http://www.fasinc.com. If you were unsuccessful connecting to our website, then the problem could be on our end. In that case, try the site again in a few minutes.
When I log into the system, no orders appear?
Contact your assigned Account Manager immediately.
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FAX NUMBERS
I am experiencing difficulty sending a fax to FAS. Is there another number?
Our receiving fax numbers are 949-752-4455 or 949-752-4456.
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EMAIL
I want to email the appraisal. What is the correct email address?
Email your assigned Account Manager, if you do not know your Account Manager’s email address, you can send it to orders@fasinc.com; it will be directed to the appropriate Account Manager.
Why am I getting an error message that states your email address is unrecognizable?
To insure you are typing the correct email address, contact your assigned Account Manager.
In what formats does FAS accept emailed/electronic appraisals?
FAS accepts electronic appraisals in Adobe Acrobat (PDF), Word Document and ACI formats.
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REO
What do I do if the property is occupied?
If the property is occupied and you are unable to speak to an occupant, leave your business card along with the provided “Introduction Letter.” Contact your assigned Asset Manager before offering any cash for keys settlement to the occupants.
What do I do if the property is vacant?
If the property is vacant and not currently listed, re-key and secure the property immediately. Do not discard or remove personal items. Take pictures of everything and complete an inventory; submit both with your listing package.
How many trash out bids are required?
Please provide two written estimates for all trash out bids.
What do I do if the property is vandalized?
Contact the proper authorities and file a police report. Take photos of any and all damage and send the photos and damage repair estimates to your assigned Asset Manager.
What do I do if the property is in redemption?
Confirm occupancy. If the property is occupied, monitor the property on a weekly basis to lessen the possibility of damage. If the property is vacant and not listed, re-key and secure the property immediately. Contact your assigned Asset Manager with any change in occupancy.
Do I order a preliminary title report?
No.
Does the property need to be winterized?
If the property is located in an area which the temperature drops below freezing, then the property is to be winterized. In these areas, all properties must be winterized between October 15th and March 1st, or longer as the locale requires. Winterization is not to exceed $100.00 in most states, please contact your assigned Asset Manager for authorization above this amount.
Do I turn utilities on?
Utilities are to be turned on in your name or the name of your company. Please submit the “Payment Request” form, W9, original invoice and a copy of your check made payable to the utility companies for reimbursement.
How do I submit invoices?
Invoices are to be submitted via mail or email and are to include: “Payment Request” form, W9, contractor’s original invoice, copy of your check made payable to the contractor and photos of completed repairs.
How do I submit my listing package?
The listing package should include a BPO, photos, repair bids, “Homeowners Association” form, listing contract and disclosures. All documents can be submitted via email, signed documents can be faxed.
What BPO form do I use in my listing package?
Each client uses a different form, refer to your “Start-Up Package” or contact your assigned Asset Manager.
How often do I have to submit an updated BPO?
An updated BPO is required one week prior to your listing expiration date.
How do I submit an offer?
All offers must be submitted through the listing agent. Listing agent is to email or fax FAS the following: buyers signed purchase contract, pre-qualification letter or verification of funds and the “Offer Worksheet.” Please note that all aforementioned items are required for an offer to be submitted.
Who selects the closing company?
The seller will select the closer.
Can invoices be added to the HUD/Settlement Statement?
Contact your assigned Asset Manager for authorization to include new or outstanding invoices on the HUD.
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PHOTOS
What is the minimum photo resolution FAS will accept?
640x480,16 (bit).
In what format should I upload the photos?
Photos should be uploaded in JPEG format. JPEG format is preferred as they are saved in compressed format which allows for the fastest transmission time and insures that file attachment size limitations set by your Internet service provider are not exceeded.
How can I change the format of the photos?
In the software that you use to manipulate the photos, click File and Save As and select the default file type as .jpg.
My email was returned with the following error message: "size exceeded post office limit." What should I do?
This is caused by a restriction from your Internet service provider. Try saving the photos in a lower resolution. The minimum resolution we will accept is 640x480. If you attached more than one photo to your email message, try sending the photos in separate messages. If that fails, then try using one of the popular compression utilities (i.e. WinZip) available on the Internet to compress your file attachments further. As a last resort, Microsoft Outlook Communicator allows for messages larger than a user definable size to be broken apart into smaller messages.
I still cannot send photos. I get the same error message. What should I do?
Internet service providers place a size limit for an email attachment. You will not be able to bypass these limitations. Call your ISP and request that they lift the restriction. If they will not, then you might consider switching to an Internet service provider that does not restrict email attachments.
What if I cannot get a photo of the subject?
Immediately contact your assigned Account Manager.
The property is located in a bad area and I am afraid to take the required photos. What should I do?
Immediately contact your assigned Account Manager.
There are many people in front of and around the house and I cannot get a clear shot of the subject. How should I proceed?
Please try again at another time. If you are still unable to take the photos, contact your BPO Account Manager.
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VALUATION
What if I recently completed a BPO or appraisal on this exact property?
Inform your assigned Account Manager before proceeding with the order, as they will check if the previous valuation was ordered by the same client. If both orders are from the same client, they may want a second opinion completed from a different brokerage.
The address does not exist on the plat map or tax records. What should I do?
Contact your assigned Account Manager for further instructions.
I am unable to match the address with the mortgagor's name.
If you are provided a Rural Route and Box Number or an incomplete address instead of the actual physical address, it is possible to obtain this information from the postal carrier and/or the emergency preparedness center in your area. Another option is to call the county tax assessor’s office and ask for their mapping department, as they are able to supply accurate directions to the property. If you are certain of the property address, complete the report based upon the property address provided, noting in the comment section the difference in the mortgagor's name. Otherwise, contact your assigned Account Manager immediately.
Since many orders are exterior inspection only, and there is no square footage, bedroom or bath data available for the subject, how do I reflect this information?
Estimate the amenity information based on your experience of like comparables and knowledge of the area. Please note that the information has been estimated in the comment section of the report.
Certain property information is unavailable on the tax records. What should I do?
You may have to estimate bed, bath, and square footage if the information is unavailable. In addition, when estimating the amenities, please state that the information was estimated.
What if I cannot locate the subject property?
Call your assigned Account Manager, as he/she will verify the address with our client and try to obtain a legal description or copy of a prior appraisal to assist in locating the property.
The house is a total loss … the only value is the land. What should I do?
Find 2 comparables for the property and 1 comparable for the land to show how much the property would be worth if restored and/or what the land would be worth if the property was demolished and removed. Please add a repair estimate so client can evaluate the contribution of value if repairs were completed.
If there is a mobile home on the property, how do I value it?
If a mobile home is permanently affixed, or on a permanent foundation, then the value is given as real property. Otherwise, mobile homes are considered personal property and no value is allocated.
What if there is no house, just land?
Call your assigned Account Manager, as he/she will verify the address with the client to confirm that land comparables are needed.
I cannot locate the address that is on your form but I have found a different address for the mortgagor. What should I do?
Call your assigned Account Manager, provide him/her with the new address, and await instructions to proceed while we verify the correct address with our client.
I have gone to the property address provided, however, the legal provided matches a different house. What should I do?
Call your assigned Account Manager, provide him/her with the new address, and await instructions to proceed while we verify the correct address.
There are no house numbers on the homes in the area. How can I determine which home is the subject?
Check to see if the tax records or legal description can help locate the subject property. If you still cannot locate the subject, contact your assigned Account Manager for further instructions.
What if I can't find any recent comparables in close proximity to subject property?
Always make an effort to find current comparables in close proximity to the subject property. However, when this is not possible, research older comparables within the subject's neighborhood. If still no comparables can be found, use data from a similar competing area. Don't forget to comment, "comparables are located further than preferred but reflect the best available data" or "due to a lack of sales in the subject's immediate neighborhood, comparables were taken from a nearby competing market." Include time or location adjustments as warranted.
Why is it so important that I fill in the sales date of the sold comparables?
It is FAS’ preference for all comparables to be no more than 6 months old. Exceptions are made with a detailed explanation. We require sale dates information and cannot submit the order to our clients without it.
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FEES/COMPENSATION
When will I receive payment?
Payment usually occurs within 60-90 days from completion of order. If you have not been paid within 90 days of completion, please email accounting@fasinc.com and include the property loan number, subject address, completion date and billing information.
Do I have to send an invoice and/or W9 every time?
If FAS has your current information on file, the answer is “no” to both. If you move offices or change your telephone number, be sure to notify FAS of the change.
Can I be reimbursed for overnight shipping?
No. Vendor fees are agreed upon prior to the placement of the order.
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CONTACT US
» Contact Information
» Common Questions
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