1. Home
  2. FAQ

Frequently Asked Questions

  • How long does appraisal take to come back?

    The turnaround time for an appraisal can vary depending on factors like property complexity and appraiser workload. On average, it may take anywhere from a few days to a few weeks.

  • What does an appraiser do?

    An appraiser evaluates the value of a property by analyzing various factors such as location, size, condition, and comparable property sales. They provide an unbiased estimate based on their expertise.

  • What assurance is there that the value indicated is valid after the report is completed?

    Appraisers follow established guidelines REGULATORY guidelines and standards. The validity of the value is ensured through their professional training, adherence to ethical standards, and reliance on market data.

  • How do I get ready for the appraiser?

    Ensure the property is clean and well-maintained. Provide any relevant documents or information about recent improvements. Be prepared to answer questions about the property.

  • What is the difference between an appraisal and a Comparative Market Analysis (CMA)?

    An appraisal is a formal assessment by a licensed appraiser, while a CMA is an informal estimate usually provided by a real estate agent. Appraisals are more detailed and precise.

  • Where does an appraiser get the data used to estimate values in our area?

    Appraisers use various sources, including public records, Multiple Listing Service (MLS), and their professional networks. They consider recent sales, market trends, and property characteristics.

  • What type of appraiser do I need?

    Ensure you hire a licensed or certified real estate appraiser. The specific type may depend on your needs, such as residential, commercial, or specialized property.

  • How long is my appraisal "up-to-date"?

    Appraisal validity varies, but typically an appraisal is considered relevant for six months to a year. Market conditions and property changes can impact its accuracy over time.

  • Is it ethical for an appraiser to help me sell an object or collection?

    Appraisers should remain impartial to maintain ethical standards. If an appraiser is involved in selling, transparent disclosure of potential conflicts of interest is essential.

  • Who actually owns the appraisal report?

    Typically, the party who orders and pays for the appraisal owns the report. However, the appraiser retains the copyright, and usage may be subject to certain restrictions.

  • What are some questions to ask potential appraisers?

    Ask about their experience, qualifications, fees, turnaround time, and references. Inquire about their knowledge of local markets and specific expertise related to your property type.