An Appraisal Engagement Letter/ Appraisal Compliance Check Sheet is a written request for evaluation of real estate.
This documentation is required when the loan is:
- Secured by Real Estate
- Existing valuation is insufficient
- Loan amount is > $250,000 (commercial)
- Loan amount is >$25,500 (1-4 residential dwelling)
- Secured by Coastal property
- Purpose is:
- Construction/renovation
- Development
Appraisals must be ordered using Real Estate Information Management System (RIMS).
- The Account Officer (Lender) Manual;
- The Job Managers (Lending Assistant) Manual for Appraisals;
- The Job Managers (Lending Assistant) Manual for Evaluations is found on here.
Note: Documentation must be addressed to Capital City Bank.
Once completed, the Appraisal Engagement Letter/ Appraisal Compliance Check Sheet document is uploaded to Synergy (consumer purpose) or Abrigo (business purpose).
If you need additional assistance with Abrigo, please contact _Abrigo Help.