Discussing Your Appraisal Needs
The first step of the appraisal process is to know exactly what our client needs to achieve with their appraisal. There are several different types of appraisal services we offer, each varying in level of reporting. There are also 100+ different appraisal forms to report on; selecting the correct one is dependent upon your use. For instance, banks and lenders almost always require the report to be delivered on a government promulgated form – commonly the FNMA 1004 for full appraisals and FNMA 1075 for exterior-only appraisals. Sometimes the lender may require additional forms for special conditions. We would need to be aware of this prior to starting the assignment so we can deliver the correct reports.
Depending on your situation you may not need a full appraisal; a desktop or exterior only may serve your purpose. Likewise, we need to know if there are any special conditions we need to include in the report. These are the types of questions we must answer before we determine the best solution for you.
Schedule Your Appointment
Once we’ve determined exactly what type of appraisal you need and how you need it reported, we then place you in contact with one of our staff appraisers. They will work with you to schedule your site visit on a day and time that works best with your availability.
The Site Visit
If a site visit is needed, your appraiser will typically arrive within 15 minutes of your appointment. While it is not necessary for the home to be spotless or appear uninhabited, it is appreciated if you take certain steps to ensure the appraiser can perform his job quickly and efficiently.
- Make sure all rooms, storage areas, garages and outbuildings are accessible
- Make sure all pets are crated or can be easily relocated when the appraiser needs access to the back yard
- Make sure all sides of the house are easily viewable
- It’s preferred for no vehicles to be parked in the driveway (license plate/privacy concerns)
During the site visit the appraiser will start by examining the exterior of the home. He/she may also take measurements of the exterior to confirm living area.
Once the exterior has been viewed, the appraiser will come back to the front door and begin the interior inspection. The appraiser will go room to room, taking photos and notes of each. The majority of the photos taken are simply for reference when writing their report. The typical photos included within the report are kitchen, living area and master bath.
If the home is multi-story, the appraiser may need to take measurements from the interior as well to calculate areas above the first floor. The appraiser will make note of the location of any attic or storage spaces that are not living area.
Once these processes are completed, the appraiser will be ready ask and answer questions regarding the appraisal. The entire site visit can last anywhere from 20 minutes to an hour depending on the size of the home.
Report Writing and Delivery
After the site visit, the appraiser will take all the data collected back to the office and begin the report writing process. This typically takes 2 business days to complete, but sometimes longer on more complex properties. Once finished, the appraisal report is sent out to the client via email as a full color PDF file.