Frequently Asked Questions
After taking the State test and as a part of continuing education, the appraiser must remain current on the Uniform Standards of Professional Appraisal Practice (USPAP). Being a licensed or certified appraiser represents the minimum requirements only. For appraisers who have exceeded the minimum standards and have gone further to educate themselves, look for the SRA designation conferred by the Appraisal Institute. The Appraisal Institute is the world’s leading real estate appraisal organization.
Members of the Appraisal Institute hold themselves to the highest ethical standards and have greater continuing education requirements. These individuals are among the very best in the appraisal profession.
2. An overview of the local market trends. Are prices currently going up or down? If so, how quickly and by how much?
3. Summary of the home’s characteristics—its condition, views, floor location, size and any improvements by the owner.
4. Other considerations: Has anything else about the home or its neighborhood affected the valuation?
To begin our work we must understand the client’s intended use of the appraisal report. While the appraisal process is the same, certain situations require the appraiser to look at different data sets or consider information that may be pertinent to a specific use. Specific forms may also be required to relay information that is not found in standard appraisal forms. An example of this would be the analysis of rental comparables for an investment property.
B) Setting up your appointment
Once we have accepted your appraisal assignment and determined the requirements to complete and deliver the report, we will schedule an appraisal inspection. We try to accommodate all schedules as best as we can, as well as try to schedule you as soon as possible.
C) Appraisal Inspection
For the site visit an appraiser will physically “walk through” your home, starting from the exterior and then moving through the interior. We will measure the home to determine an accurate living area. In addition, we’ll take pictures that will document the condition, quality of the finishes, number of rooms, and views.
D) Report Writing and Delivery
After completing the appraisal inspection, the appraiser returns to the office, and this is where most of the work gets done. At this phase, we research the information relevant to the property, we gather data and perform an impartial and thorough analysis that we include in your final report. The process can take a few days depending on the appraiser’s work load and the complexity of your assignment. The final product is sent to you via email as a PDF document.
Single family homes
2-4 unit multi family
Rooftops and terraces
Multi- family apartment buildings
Professional and/or medical offices