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APPRAISAL MYTHS

Know the truth about appraisals

Listed below you will find some common mis-conceptions of appraisals. If there are questions that you still have after reading this, please feel free to contact us with any questions you might have. An Appraisal is the same as a home inspection.

 

 An Appraisal does not serve the same purpose as an inspection. The Appraiser forms an opinion of value in the Appraisal process and resulting report. A home inspector determines the condition of the home and its major components and reports these findings. Appraisers are hired only to estimate real estate property values in property sales involving mortgage-lending transactions.

 

Depending upon their qualifications and designations, appraisers can and do provide a variety of services, including advice for estate planning, dispute resolution, zoning and tax assessment review and cost/benefit analysis.

 

Consumers need not be concerned with what is in the appraisal document so long as it satisfies the needs of their lending institution.

 

Only if consumers read a copy of their appraisal can they double-check its accuracy and question the result. Also, it makes a valuable record for future reference, containing useful and often-revealing information – including the legal and physical description of the property, square footage measurements, list of comparable properties in the neighborhood, neighborhood description and a narrative of current real-estate activity and/or market trends in the vicinity.

 

Because consumers pay for appraisals when applying for loans to purchase or refinance real estate, they own their appraisal.

 

The appraisal is, in fact, legally owned by the lender – unless the lender “releases its interest” in the document. However, consumers must be given a copy of the appraisal report, upon written request, under the Equal Credit Opportunity Act.

 

You generally can tell what a property is worth simply by looking at the outside.

 

Property value is determined by a number of factors, including location, condition, improvements, amenities, and market trends.

 

In a robust economy – when the sales prices of homes in a given area are reported to be rising by a particular percentage – the value of individual properties in the area can be expected to appreciate by that same percentage.

 

Value appreciation of a specific property must be determined on an individualized basis, factoring in data on comparable properties and other relevant considerations. This is true in good times as well as bad.

 

Appraisers use a formula, such as a specific price per square foot, to figure out the value of a home.

 

In short....there is no such formula.  Appraisers make a detailed analysis of all factors pertaining to the value of a home including its location, condition, size, proximity to facilities, and recent sale prices of comparable properties.

 

Market value should approximate replacement cost.

 

Market value is based on what a willing buyer likely would pay a willing seller for a particular property, with neither being under pressure to buy or sell. Replacement cost is the dollar amount required to reconstruct a property in-kind.

 

The appraised value of a property will vary, depending upon whether the appraisal is conducted for the buyer or the seller.

 

The appraiser has no vested interest in the outcome of the appraisal and should render services with independence, objectivity and impartiality – no matter for whom the appraisal is conducted.

 

Appraisal fees are covered in closing costs. No “Deal”, no “Fees”.

 

An appraiser is an educated, certified professional with extensive knowledge of real estate markets, values and practices. The appraiser is often the only independent voice in any real estate transaction with no vested interest in the ultimate value or sales price of the property. Since appraisers provide a service, the fee for this service shall be due regardless of whether or not the “Deal Closed”!

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Accurate Appraisals, USA has become one of the most respected appraisal companies in the industry.   Accurate Appraisal USA customers benefit from the company's 5 decades of extensive experience in the appraisal industry. Accurate Appraisals USA  has assembled a core staff of experienced valuation, quality control, and administrative professionals and we stand ready to demonstrate our commitment to you!

 

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CONTACT

3104 E Camelback Rd.   #315

Phoenix, AZ 85016

Phone: (855) 887-8378

Fax: (888) 557-1073

 

Email:  support@accurateappraise.com

 

© 2018  Accurate Appraisals USA.      Site designed by: Creative Admark

APPRAISAL MYTHS

Listed below you will find some common mis-conceptions of appraisals. If there are questions that you still have after reading this, please feel free to contact us with any questions you might have. An Appraisal is the same as a home inspection.

 

 An Appraisal does not serve the same purpose as an inspection. The Appraiser forms an opinion of value in the Appraisal process and resulting report. A home inspector determines the condition of the home and its major components and reports these findings. Appraisers are hired only to estimate real estate property values in property sales involving mortgage-lending transactions.

 

Depending upon their qualifications and designations, appraisers can and do provide a variety of services, including advice for estate planning, dispute resolution, zoning and tax assessment review and cost/benefit analysis.

 

Consumers need not be concerned with what is in the appraisal document so long as it satisfies the needs of their lending institution.

 

Only if consumers read a copy of their appraisal can they double-check its accuracy and question the result. Also, it makes a valuable record for future reference, containing useful and often-revealing information – including the legal and physical description of the property, square footage measurements, list of comparable properties in the neighborhood, neighborhood description and a narrative of current real-estate activity and/or market trends in the vicinity.

 

Because consumers pay for appraisals when applying for loans to purchase or refinance real estate, they own their appraisal.

 

The appraisal is, in fact, legally owned by the lender – unless the lender “releases its interest” in the document. However, consumers must be given a copy of the appraisal report, upon written request, under the Equal Credit Opportunity Act.

 

You generally can tell what a property is worth simply by looking at the outside.

 

Property value is determined by a number of factors, including location, condition, improvements, amenities, and market trends.

 

In a robust economy – when the sales prices of homes in a given area are reported to be rising by a particular percentage – the value of individual properties in the area can be expected to appreciate by that same percentage.

 

Value appreciation of a specific property must be determined on an individualized basis, factoring in data on comparable properties and other relevant considerations. This is true in good times as well as bad.

 

Appraisers use a formula, such as a specific price per square foot, to figure out the value of a home.

 

In short....there is no such formula.  Appraisers make a detailed analysis of all factors pertaining to the value of a home including its location, condition, size, proximity to facilities, and recent sale prices of comparable properties.

 

Market value should approximate replacement cost.

 

Market value is based on what a willing buyer likely would pay a willing seller for a particular property, with neither being under pressure to buy or sell. Replacement cost is the dollar amount required to reconstruct a property in-kind.

 

The appraised value of a property will vary, depending upon whether the appraisal is conducted for the buyer or the seller.

 

The appraiser has no vested interest in the outcome of the appraisal and should render services with independence, objectivity and impartiality – no matter for whom the appraisal is conducted.

 

Appraisal fees are covered in closing costs. No “Deal”, no “Fees”.

 

An appraiser is an educated, certified professional with extensive knowledge of real estate markets, values and practices. The appraiser is often the only independent voice in any real estate transaction with no vested interest in the ultimate value or sales price of the property. Since appraisers provide a service, the fee for this service shall be due regardless of whether or not the “Deal Closed”!

Know the truth about appraisals

EXPERIENCED AND PROFESSIONAL

ACCURATE APPRAISALS USA

Know the truth about appraisals

Listed below you will find some common mis-conceptions of appraisals. If there are questions that you still have after reading this, please feel free to contact us with any questions you might have. An Appraisal is the same as a home inspection.

 

 An Appraisal does not serve the same purpose as an inspection. The Appraiser forms an opinion of value in the Appraisal process and resulting report. A home inspector determines the condition of the home and its major components and reports these findings. Appraisers are hired only to estimate real estate property values in property sales involving mortgage-lending transactions.

 

Depending upon their qualifications and designations, appraisers can and do provide a variety of services, including advice for estate planning, dispute resolution, zoning and tax assessment review and cost/benefit analysis.

 

Consumers need not be concerned with what is in the appraisal document so long as it satisfies the needs of their lending institution.

 

Only if consumers read a copy of their appraisal can they double-check its accuracy and question the result. Also, it makes a valuable record for future reference, containing useful and often-revealing information – including the legal and physical description of the property, square footage measurements, list of comparable properties in the neighborhood, neighborhood description and a narrative of current real-estate activity and/or market trends in the vicinity.

 

Because consumers pay for appraisals when applying for loans to purchase or refinance real estate, they own their appraisal.

 

The appraisal is, in fact, legally owned by the lender – unless the lender “releases its interest” in the document. However, consumers must be given a copy of the appraisal report, upon written request, under the Equal Credit Opportunity Act.

 

You generally can tell what a property is worth simply by looking at the outside.

 

Property value is determined by a number of factors, including location, condition, improvements, amenities, and market trends.

 

In a robust economy – when the sales prices of homes in a given area are reported to be rising by a particular percentage – the value of individual properties in the area can be expected to appreciate by that same percentage.

 

Value appreciation of a specific property must be determined on an individualized basis, factoring in data on comparable properties and other relevant considerations. This is true in good times as well as bad.

 

Appraisers use a formula, such as a specific price per square foot, to figure out the value of a home.

 

In short....there is no such formula.  Appraisers make a detailed analysis of all factors pertaining to the value of a home including its location, condition, size, proximity to facilities, and recent sale prices of comparable properties.

 

Market value should approximate replacement cost.

 

Market value is based on what a willing buyer likely would pay a willing seller for a particular property, with neither being under pressure to buy or sell. Replacement cost is the dollar amount required to reconstruct a property in-kind.

 

The appraised value of a property will vary, depending upon whether the appraisal is conducted for the buyer or the seller.

 

The appraiser has no vested interest in the outcome of the appraisal and should render services with independence, objectivity and impartiality – no matter for whom the appraisal is conducted.

 

Appraisal fees are covered in closing costs. No “Deal”, no “Fees”.

 

An appraiser is an educated, certified professional with extensive knowledge of real estate markets, values and practices. The appraiser is often the only independent voice in any real estate transaction with no vested interest in the ultimate value or sales price of the property. Since appraisers provide a service, the fee for this service shall be due regardless of whether or not the “Deal Closed”!

EXPERIENCED AND PROFESSIONAL

ACCURATE APPRAISALS USA

Know the truth about appraisals

Listed below you will find some common mis-conceptions of appraisals. If there are questions that you still have after reading this, please feel free to contact us with any questions you might have. An Appraisal is the same as a home inspection.

 

 An Appraisal does not serve the same purpose as an inspection. The Appraiser forms an opinion of value in the Appraisal process and resulting report. A home inspector determines the condition of the home and its major components and reports these findings. Appraisers are hired only to estimate real estate property values in property sales involving mortgage-lending transactions.

 

Depending upon their qualifications and designations, appraisers can and do provide a variety of services, including advice for estate planning, dispute resolution, zoning and tax assessment review and cost/benefit analysis.

 

Consumers need not be concerned with what is in the appraisal document so long as it satisfies the needs of their lending institution.

 

Only if consumers read a copy of their appraisal can they double-check its accuracy and question the result. Also, it makes a valuable record for future reference, containing useful and often-revealing information – including the legal and physical description of the property, square footage measurements, list of comparable properties in the neighborhood, neighborhood description and a narrative of current real-estate activity and/or market trends in the vicinity.

 

Because consumers pay for appraisals when applying for loans to purchase or refinance real estate, they own their appraisal.

 

The appraisal is, in fact, legally owned by the lender – unless the lender “releases its interest” in the document. However, consumers must be given a copy of the appraisal report, upon written request, under the Equal Credit Opportunity Act.

 

You generally can tell what a property is worth simply by looking at the outside.

 

Property value is determined by a number of factors, including location, condition, improvements, amenities, and market trends.

 

In a robust economy – when the sales prices of homes in a given area are reported to be rising by a particular percentage – the value of individual properties in the area can be expected to appreciate by that same percentage.

 

Value appreciation of a specific property must be determined on an individualized basis, factoring in data on comparable properties and other relevant considerations. This is true in good times as well as bad.

 

Appraisers use a formula, such as a specific price per square foot, to figure out the value of a home.

 

In short....there is no such formula.  Appraisers make a detailed analysis of all factors pertaining to the value of a home including its location, condition, size, proximity to facilities, and recent sale prices of comparable properties.

 

Market value should approximate replacement cost.

 

Market value is based on what a willing buyer likely would pay a willing seller for a particular property, with neither being under pressure to buy or sell. Replacement cost is the dollar amount required to reconstruct a property in-kind.

 

The appraised value of a property will vary, depending upon whether the appraisal is conducted for the buyer or the seller.

 

The appraiser has no vested interest in the outcome of the appraisal and should render services with independence, objectivity and impartiality – no matter for whom the appraisal is conducted.

 

Appraisal fees are covered in closing costs. No “Deal”, no “Fees”.

 

An appraiser is an educated, certified professional with extensive knowledge of real estate markets, values and practices. The appraiser is often the only independent voice in any real estate transaction with no vested interest in the ultimate value or sales price of the property. Since appraisers provide a service, the fee for this service shall be due regardless of whether or not the “Deal Closed”!

EXPERIENCED

AND PROFESSIONAL

© 2017 Accurate Appraisals USA     Site designed by: Creative Admark

ACCURATE APPRAISALS USA

Know the truth about appraisals

Listed below you will find some common mis-conceptions of appraisals. If there are questions that you still have after reading this, please feel free to contact us with any questions you might have. An Appraisal is the same as a home inspection.

 

 An Appraisal does not serve the same purpose as an inspection. The Appraiser forms an opinion of value in the Appraisal process and resulting report. A home inspector determines the condition of the home and its major components and reports these findings. Appraisers are hired only to estimate real estate property values in property sales involving mortgage-lending transactions.

 

Depending upon their qualifications and designations, appraisers can and do provide a variety of services, including advice for estate planning, dispute resolution, zoning and tax assessment review and cost/benefit analysis.

 

Consumers need not be concerned with what is in the appraisal document so long as it satisfies the needs of their lending institution.

 

Only if consumers read a copy of their appraisal can they double-check its accuracy and question the result. Also, it makes a valuable record for future reference, containing useful and often-revealing information – including the legal and physical description of the property, square footage measurements, list of comparable properties in the neighborhood, neighborhood description and a narrative of current real-estate activity and/or market trends in the vicinity.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Because consumers pay for appraisals when applying for loans to purchase or refinance real estate, they own their appraisal.

 

The appraisal is, in fact, legally owned by the lender – unless the lender “releases its interest” in the document. However, consumers must be given a copy of the appraisal report, upon written request, under the Equal Credit Opportunity Act.

 

You generally can tell what a property is worth simply by looking at the outside.

 

Property value is determined by a number of factors, including location, condition, improvements, amenities, and market trends.

 

In a robust economy – when the sales prices of homes in a given area are reported to be rising by a particular percentage – the value of individual properties in the area can be expected to appreciate by that same percentage.

 

Value appreciation of a specific property must be determined on an individualized basis, factoring in data on comparable properties and other relevant considerations. This is true in good times as well as bad.

 

Appraisers use a formula, such as a specific price per square foot, to figure out the value of a home.

 

In short....there is no such formula.  Appraisers make a detailed analysis of all factors pertaining to the value of a home including its location, condition, size, proximity to facilities, and recent sale prices of comparable properties.

 

Market value should approximate replacement cost.

 

Market value is based on what a willing buyer likely would pay a willing seller for a particular property, with neither being under pressure to buy or sell. Replacement cost is the dollar amount required to reconstruct a property in-kind.

 

The appraised value of a property will vary, depending upon whether the appraisal is conducted for the buyer or the seller.

 

The appraiser has no vested interest in the outcome of the appraisal and should render services with independence, objectivity and impartiality – no matter for whom the appraisal is conducted.

 

Appraisal fees are covered in closing costs. No “Deal”, no “Fees”.

 

An appraiser is an educated, certified professional with extensive knowledge of real estate markets, values and practices. The appraiser is often the only independent voice in any real estate transaction with no vested interest in the ultimate value or sales price of the property. Since appraisers provide a service, the fee for this service shall be due regardless of whether or not the “Deal Closed”!

EXPERIENCED

AND PROFESSIONAL

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