Neighborhood Comp Check
NCC was created to provide an expert opinion of value in an effort to guide both consumers and lenders in making a fiscally prudent decision when pursuing a loan. Utilizing a combination Fannie Mae/Freddie Mac guidelines and specific lending standards that place restrictions on what represents a comparable sale, a value investigation is completed which provides a realistic “desk top” value range of the property in question.
The cost of an NCC is $65.00. This represents a significant savings in comparison to a full appraisal which, at a minimum, costs $350-$400. Please email email@example.com for the costs regions outside the Northeast.
A typical NCC is performed by a variety of real estate professionals -- including appraisers. The findings, however, are not a pre-requisite to an appraisal assignment nor is any undue influence applied in arriving at the conclusions of an NCC. The NCC stands alone as a representation of the conclusions of what a typical real estate appraisal would yield, with the implicit understanding of the limitations and accuracy associated with a desktop valuation.
Neighborhood Comp Check (NCC) is a community of real estate professionals trained in the valuation of real estate and the guidelines specific to real estate valuation and mortgage lending. NCC is an acronym for both the company and the value investigation performed.
Just fill in the form on the ORDER HERE page. All pertinent data and information will be conveyed to a real estate professional specifically knowledgeable about your town and neighborhood. The NCC will be completed within 48 hours and returned to you by email. Payment is required in advance via credit card.
Pre-loan value investigations or “comp checks” executed by licensed appraisers used to be a common, and oftentimes necessary, part of the loan process. In 2009, federally mandated changes to mortgage lending procedures prohibited a value investigation to be completed by a licensed real estate appraiser in direct association with, or as a pre-requisite to, a future appraisal assignment. This created an information roadblock that NCC breaks through.