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What is an Appraisal?

What Is a Real Estate Appraisal?

A real estate appraisal is an independent, professional opinion of a property’s fair market value, conducted by a state-licensed or certified appraiser.

Whether you're preparing to sell, settling an estate, removing PMI, or planning a property transfer, an accurate appraisal gives you the confidence to make informed decisions.

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Why Would I Need an Appraisal?

Real estate appraisals are commonly needed for:

  • Pre-Listing or For Sale By Owner (FSBO)

  • Refinancing or Private Mortgage Insurance (PMI) removal

  • Date of Death and Estate Tax Planning

  • Divorce and Legal Settlements

  • Gifting or Transferring Real Estate

  • Investment and Rental Property Evaluations

Each situation requires a professional, USPAP-compliant valuation that reflects current market conditions.

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How Is Property Value Determined?

Appraisers use several approaches to determine a property's value, depending on the property type and purpose of the appraisal. The most common for residential homes is the:

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Sales Comparison Approach
This method analyzes recent sales of similar properties, adjusting for differences in location, size, condition, and features to estimate the subject property's market value.

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Other methods include:

Cost Approach
Estimates what it would cost to rebuild the property from scratch, minus depreciation, plus the land value.

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Income Approach
Used primarily for rental or investment properties, this method is based on the income the property is expected to generate.

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What’s Included in the Final Appraisal Report?

You’ll receive a detailed, easy-to-read report that includes:

  • Complete property description with high-quality photos

  • Sketch showing the layout and measurements of the home

  • Comparable sales with adjustment grid

  • Market condition and neighborhood trend analysis

  • Final opinion of value using accepted valuation methods

  • Purpose and intended use of the appraisal

  • Certification of compliance with USPAP standards

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Who Uses Appraisals?

  • Homeowners seeking accurate market value

  • Realtors for pricing strategy or listing support

  • Attorneys handling estate, divorce, or litigation matters

  • CPAs for tax and financial planning

  • Real estate investors and landlords

  • Lenders needing value confirmation

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What Is the Timeline?

After scheduling the appraisal, I perform a brief on-site property inspection, followed by market research and analysis of comparable sales.

Final appraisal reports are typically delivered within 3–5 business days after the inspection.

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Why Work With a Local Certified Appraiser?

As a Certified Residential Appraiser, I provide:

  • Local market expertise

  • Prompt, professional communication

  • Unbiased, accurate valuation reports

My goal is to ensure each client receives a clear, reliable appraisal tailored to their specific needs — whether for legal, financial, or personal purposes.

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