How Can Trusts Use Real Estate Valuation Services?
Any Trust that maintains real estate assets understands the issue of managing multiple vendors to keep real estate assets in compliance with current federal regulations. Real estate assets can be in any part of the country — and often outside a trust officer’s market area of appraisal contacts.
Because Trust real estate assets must be maintained and properly valued every 1-3 years (with recommended yearly site visits), officers can find themselves struggling to manage all the assets in their portfolio. Trusts will normally resort to working with multiple vendors to stay in compliance, all while racking up a hefty bill for their client.
With Akrivis, you can streamline your compliance needs with just one vendor without having to coordinate different visits between appraisers and property inspectors. Through using our real estate valuation services, you can have the property inspected by our detailed network of inspectors and have our staff perform analysis without the need to coordinate multiple appointments with your site contact.
Let’s discuss the different real estate valuation services available to Trust institutions.
What Real Estate Valuation Services We Provide
With Akrivis, you can streamline compliance of your trust assets by using us to:
- Know the condition of the property and get a list of recommended updates through a room-by-room analysis with a Residential Property Data Report.
- Get a value of the property using an Appraisal or Evaluation.
- Replacement Cost Value (RCV), Income Approach, and other specific requests are available to fit all needs.
- Receive yearly property inspections (exterior and/or interior) so that you can ensure the property’s condition hasn’t changed year over year.
Our valuations will help you stay compliant with local and federal regulations and minimize the administrative legwork for you and your team. Learn more about our fiduciary, trust, and estate property valuation solutions today.
Do Costs Vary for Real Estate Valuations?
Normally (and understandably), prices for these services vary based on location, size, and ease of access.
For example, a rental investment property in the mountains of Colorado may be difficult to access. It would be normal to charge more to perform an inspection there than for a rental in a highly populated area like Miami.
However, Akrivis has flat fees for all our services nationwide. That means we do not charge more for our services based on any of the above factors. When you utilize our services, you can be confident of the cost to your client each time you order.
Does Akrivis Value All Types of Real Estate?
Another difficulty trust officers may have is diverse types of Real Estate in their portfolios. Akrivis values all types of real estate. We have valued everything from RV parks to working farms and boat piers for our clients. If what we’re valuing or inspecting is real estate, then the work can be completed.
Can I Automate Trust Compliance Reports?
Yes, one of the best parts about using Akrivis for Trust Compliance is that we can automate our process once you order with us.
When you put in an order, you have the option of one-time or recurring inspections/evaluations. You can choose to receive reports on a 1- to 5-year basis (whatever your institution requires). You will receive a reminder email three weeks before the requested due date to let you know that your property is up for renewal.
Choose Akrivis for Your Trust Real Estate Valuations
Akrivis is a great choice for Trust Institutions with real estate assets locally and spread across the country. We have nationwide coverage, a five-business day turnaround time, and flat fees.
If you’re looking for more information on our real estate valuation solutions, please contact us. One of our dedicated team members will reach out to you with more information! We’re excited to start working with you.