Have Questions? We Are Here! 

A. An appraisal is a professional appraiser’s opinion of value. The preparation of an appraisal involves research into appropriate market areas; the assembly and analysis of information pertinent to a property; and the knowledge, experience, and professional judgment of the appraiser.

A. The role of the appraiser is to provide objective, impartial and unbiased opinions about the value of real property— providing assistance to those who own, manage, sell, invest in and/or lend money on the security of real estate.

A.  At minimum, all states require appraisers to be state licensed or certified in order to provide appraisals to federally regulated lenders. However, appraisers who become designated members, candidates, practicing affiliates and affiliates of the Appraisal Institute have gone beyond these minimum requirements. They have fulfilled rigorous educational and experience requirements and must adhere to strict standards and a code of professional ethics. The Appraisal Institute currently confers the MAI designation on those who are experienced in the valuation of commercial, industrial, residential and other types of properties. The SRA designation is held by those who are experienced in the analysis and valuation of residential real property.

A. They bring knowledge, experience, impartiality and trust to the transaction. In so doing, they help their clients make sound decisions with regard to real property.

A. Most appraisals are reported in writing, although in certain circumstances, an appraiser may provide an oral appraisal. A written appraisal report generally consists of a description of the property and its ocale, an analysis of the “highest and best use” of the property, an analysis of sales of comparable properties “as near the subject property as possible,” and information regarding current real estate activity and/or market area trends.

A. The value indicated by recent sales of comparable properties, the current cost of reproducing or replacing a building, and the value that the property’s net earning power will support are the most important considerations in the valuation of real property.

A.

• Advice in eminent domain and
• Cost and benefit or investment analysis
• Dispute resolution—including divorce
• Estate planning and estate settlements
• Feasibility studies
• Land utilization studies
• Supply and demand studies
• Tax assessment review and advice condemnation property transactions estate settlements, property partition for example, determining the financial return on remodeling suits, foreclosures, and zoning issues

A. The following questions would be appropriate:

• Are you familiar with property in this neighborhood?
• Are you licensed or certified in the state in which you live?
• How long have you been in practice?
• What level of experience do you have in this particular market and with this type of property?
• What professional designations do you have and from what groups?
• What types of clients have you had (homeowners, estates, lenders, relocation companies)?