Appraisal FAQs
Appraisal FAQs
What does an appraiser do?
Real estate appraisers use their local knowledge, training, and education to develop an opinion of value of real estate that is credible and unbiased. By providing thoughtful analysis of real estate, appraisers help you make informed decisions regarding your real estate transactions.
What should I expect during an appraisal inspection?
An appraisal inspection will typically include both an interior and exterior visual inspection of your property. The appraiser will measure your home to determine its size, and take photographs of its interior and exterior features. The inspection usually lasts between 30-60 minutes. You do not need to have your home professionally cleaned or staged for an appraisal inspection.
What happens after the inspection?
After the inspection, the appraiser will evaluate your property and develop an opinion of value of your property.
Why should I use a professional appraiser?
A state licensed real estate appraiser has gone through extensive training and field experience, in addition to completing state required appraisal education and passing state subject knowledge examinations. State licensed real estate appraisers must comply with a set of standards called the Uniform Standards of Professional Appraisal Practices (USPAP), which are set by The Appraisal Foundation. The purpose of USPAP "is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers." State licensing requirements compel all appraisers to engage in continuing education and to be sure that appraisers are informed of the latest changes in real estate valuation theory and practices.