What is an appraisal?

An appraisal is a supportable and defensible estimate or opinion of market value.

Why do you need an appraisal?

Most often, the appraisal is part of the supporting documentation which is required to arrange financing secured by the property.

How long will the appraiser take?

The actual inspection is only a small part of the appraisal process. The appraiser may take as little as 20 minutes of your time to gather the information necessary to start the report.

What is the appraiser looking for during the inspection?

We will look at many things including: condition, size, mechanicals, layout, utility, materials used and any repairs that may be required. Also taken into consideration is the location/neighborhood.

Make yourself available for the appraiser.

The main reason for a delay of an appraisal is the appraiser's lack of access to the property. Set aside a morning or afternoon to meet the appraiser.

How can you prepare for the appraiser?

The following is a list of documents to have ready for the appraiser (if available):

1. Survey of the property
2. Tax bills (most recent)
3. Deed
4. Original plans & specs
5. A list of recent improvements & cost
6. The date and price of last purchase
7. And any information you feel pertinent

Qualifications of the appraiser.

Before becoming state licensed or certified, an appraiser must have a minimum of two years experience. They must also have attended and passed a minimum number of course hours/exams including a Standards of Professional Practice and Ethics class. After this, each appraiser must sit for the state exam and pass. They are then issued a state license. Continuing education is also a requirement.

Ask the appraiser if they are state licensed or certified.

Can the appraiser let you know the value before they leave?

The appraiser has hours of research after the inspection in determining the value. To guess at a value before completing this research would not be in your best interest.

Does the appraisal effect your taxes?

The appraisal report is confidential information for our client only. The value is reported to our client and can not be given to anyone but our client. Therefore, your assessor does not receive a copy of the report and the value reported does not change your assessment or taxes. We do, however, offer appraisal services designed for assessment reduction.

Sinclair & Company: Quality and Service.

At Sinclair & Company we strive to complete the highest quality appraisal report. Your extra effort in supplying the appraiser with all of the necessary paperwork ensures a top quality report.

It is also a priority to supply our clients with the best service possible. Your cooperation and flexibility in setting up the appointment helps you speed through the appraisal process.