Here is a list of common questions that our clients ask us. If you need more information don’t hesitate to get in touch with us.
An appraisal is an independently prepared, objective opinion of value on a specific property as of a specific date prepared by a qualified appraiser. The appraisal report should be a "stand-alone" document that leads the reader to a logical opinion of value.
An inspection of the property is required in order to verify size, location, number of rooms, built-ins, quality of construction, measurements, deficiencies, site improvements, outbuildings and views. After the inspection, the appraiser compiles an appraisal report by researching, analyzing and combining information from various reliable sources with due diligence.
Many factors affect value which include, however are not limited to: location, market conditions, physical features, size, economic characteristics, zoning and future potential
In real estate purchases - anyone who is purchasing a home with a mortgage. Anyone purchasing real estate without a mortgage does not require an appraisal. Real estate appraisals are typically needed in refinancing mortgages, estate settlements, removal of private mortgage insurance, divorces and tax appeals. Many real estate purchasers have also required appraisals to corroborate the value of real estate purchases.
Usually, residential appraisals take about one hour to complete the inspections and 48 hours to complete the necessary market research and write the report.
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