How To Prepare For An Appraisal

What to Expect from a Real Estate Appraiser

Each Appraisal begins with research from public records and MLS to find recent sales and current listings as a basis of the property's value. Then, if the owner or Realtor provides comparable properties (comps), they are considered. Next, I (Paul) will contact the homeowner or tenant to establish a date and time to visit the property.

When I arrive at the property

Paul is professional and courteous to the homeowners/tenants. He dresses professionally and removes his shoes before entering the house. I will be polite, but I cannot discuss the property value during the assessment. Paul uses the latest technology to appraise the property, allowing him to quickly complete the property assessment. I  utilize a laser to measure the property and/or an AR/LiDAR application on a smartphone or tablet to take measurements and photograph all relevant/required features. The whole process usually takes less than an hour.

The Appraisal Report

My appraisal reports are straightforward and clear. It is my business policy to be honest and thorough. Each Appraisal report includes a 1004MC form with relevant statistics, graphs, and individual analysis. Also included are aerial views, interior pictures, plat maps, and a location map.

• I consider the most recent nearby sales similar to the subject.
• I review each comparable property's MLS and look at all the photos provided in MLS.
• He selects the best deals to form an opinion of value.

Most reports have at least 4 recent sales and 2 current listings. I consider each comparable's relevance, describe why it was included to estimate the value of the subject property, and explain how any adjustments were determined.

*Some statements in the Appraisal report are boilerplate.

Appraisal Report Example: 

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