Questions we get regularly
Can the appraisal be used for another client or purpose other than what it was originally intended for?
An appraisal is completed for a specific point in time and for a specific purpose. The appraisal is only to be utilized for that time and purpose. Therefore, an appraisal cannot be reused for another client or purpose.
The client determines who gets a copy of the appraisal. In most lending situations the borrower or owner can get a copy of the appraisal upon written request to the lender.
After the initial inspection, the actual appraisal report may take just a few hours for a simple property or months for a complex assignment.
Property value is a source of wealth for individuals, corporations, and governments. Therefore, the determination of property values is essential to the economic well-being of individuals and societies. It is the job of professional appraisers to determine these values by gathering, analyzing, and applying information pertinent to properties. The professional opinion of an appraiser, backed by 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 following items, if available, will help your appraiser to provide a more accurate appraisal in a shorter period of time:
(1) A survey of the property
(2) A deed or title report showing the legal description of the property
(3) A recent tax bill
(4) A copy of the property’s plans and specifications
(5) The date and price you paid when you purchased the property
(6) A list of recent improvements and costs
(7) Current leases as well as income and expense reports may also be very useful in the appraisal process
(8) Any other information you feel may be pertinent
Based on our current work load, complexity of the assignment, and when you need the appraisal report, we’ll agree upon a completion date.
Yes, we are Certified General Appraisers in Utah and California. Many on our staff are Certified Residential Appraisers and trainees.
We appraise commercial, residential, and special purpose properties.
Market Value is the price someone will probably pay for the property in a competitive, open market–assuming the market is not affected by any other stimuli.