Question 1

How much does an appraisal cost?

Accepted Answer

Each appraisal assignment is different and depends on the complexity, size of property, type of property, appraisal product type, and type of assigment. Please contact us and we can gladly provide a quoted fee for your appraisal request.

Question 2

How long does it take for me to receive my completed appraisal report?

Accepted Answer

Completion time depends on the complexity of the appraisal assignment. Typically, it takes 3-5 businesss days for a standard appraisal.  I offer rush appraisal order services by request at an additional cost.

Question 3

Are real estate appraisals necessary?

Accepted Answer

The wealth of many private, corporate, and public entities lies in real estate.  The determination of its value is essential to the economic well-being of society. It is the job of the professional appraiser to determine these values by gathering, analyzing, and applying information pertinent to a property.
Unquestionably, the professional opinion of the appraiser, backed by extensive training and knowledge, influences the decisions of people who own, manage, sell, purchase, invest in, and lend money on the security of real estate. The appraiser is trained to be an impartial third party in the lending process, this professional serves as a vital "check in the system," protecting real estate buyers from overpaying for property as well as lenders from over lending to buyers.

Question 4

Do I need an appraiser, engineer, or whole house inspector?"

Accepted Answer

The appraiser is not a whole house inspector, engineer, architect, electrician, plumber, or contractor. The appraiser briefly walks through the house to get an idea of the general condition and quality. The appraiser conducts a professional observation of the property to collect credible data and to verify data. I recommend clients seek the advice of experts if you have any questions regarding the structural or mechanical aspects of a property.

Question 5

What does the appraiser look for?

Accepted Answer

Typically the appraiser needs to document the overall condition of the interior/exterior of the property. From the layout, room count, degree of modernization, improvements, remodeling, updating, and as well the overall quality of construction. The appraiser also documents any visual deficiencies that may affect the livability, safety, soundess, and/or structural integrity of the property. Measurements are taken at time of inspection to verify gross living area (GLA) and square footage of other non-living areas. The appraiser documents additional structures, amenities, and fixtures that could affect the overall value of the property.

Question 6

What is market value?

Accepted Answer

Market value or fair market value is the most probable price that a property should bring (will sell for) in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.

NORTH VALLEY APPRAISALS

FREQUENTLY ASKED QUESTIONS

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NORTH VALLEY APPRAISALS

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FREQUENTLY ASKED QUESTIONS

Do you have other Appraisal or Real Estate Questions?

Contact North Valley Appraisals