Step 1. Schedule with Davlin Appraisal
You can call me or use the contact page to get your appraisal started.
Step 2. Provide Requested Property Info
Want to know more about the general steps involved in a residential appraisal?
Click Learn More below to find out.
Step 3. Receive Your Appraisal
Appraisals can be confusing. There are some common factors that affect most appraisals.
Click below to get those explained.
Steps for Appraisal
Assignment and Scope of Work
The appraiser receives an assignment, usually from a lender or other client, outlining the purpose of the appraisal and any specific requirements.
Property Inspection
The appraiser physically inspects the property, taking note of its size, condition, layout, and features. They may also consider the neighborhood and surrounding amenities.
Data Collection
Gather relevant data, including information on recent comparable sales (comps), property tax records, public records, and other data that may impact the property’s value.
Market Analysis
Conduct a market analysis to understand the current real estate market conditions in the area, including trends, supply and demand, and economic factors.
Comparable Sales Analysis
Identify and analyze recent sales of comparable properties in the vicinity. Adjustments are made for any differences between the subject property and the comparable sales.
Cost Approach (Optional)
In some cases, the appraiser may use the cost approach, which estimates the cost to replace the property with a similar one, adjusted for depreciation.
Income Approach (Optional)
For income-producing properties, such as rental units, the appraiser may use the income approach, which considers the property’s potential income and capitalization rates.
Final Reconciliation
The appraiser combines the information from the various approaches to arrive at a final value estimate for the property.
Report Preparation
Document the appraisal findings in a comprehensive report, including the property description, analysis of comparable sales, adjustments made, and the final value estimate.
Submission to Client
Provide the completed appraisal report to the client (typically a lender or other interested party) for their review.
Review and Corrections
Address any questions or concerns raised by the client and make corrections or adjustments to the appraisal report if necessary.
Understanding your appraisal
Marketing
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Valuation is heavily confirmed by using comparable properties that have either recently sold or are still active on the market.
Location
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A home that sits on a large pie-shaped lot that backs on to a ravine will be worth more than a house with a standard-sized lot.
Size
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Bigger homes with more bedrooms and bathrooms will generally mean a property will be worth more.
Condition
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Condition and construction identify the exact materials used to build th home. A hoe built with modern material appraise higher.
Curb Appeal
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Curb appeal is considered heavily when valuing a home. This means how a property is presented and how it looks from the street.
Age / Design
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Both newer and older homes each have their advatages and disadvantages in valaution.
Appliances
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Air Conditioning, Heating, Appliances, Electrical and Plumbing systems will all be evaluated in the appraised value.
Clean It Up
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This should be obvious but at home that is a disaster is probably going to get a lower appraisal value.
