With over 20 years of experience in appraisal services, our team has the knowledge and skills to help you achieve your real estate goals, whether you are buying, selling or investing.
What is an appraisal?
An appraisal of property is an expert assessment of its value conducted by a licensed or certified appraiser. This process involves a thorough examination of various factors that contribute to the property's worth, such as its location, size, condition, comparable sales in the area, and any unique features it may possess.
Appraisals are commonly performed for both residential and commercial properties and are often required during real estate transactions, refinancing, or for insurance purposes. The primary objective of an appraisal is to determine the fair market value of the property, which is the price it would likely sell for in the current market conditions.
Appraisers use a combination of techniques, including comparative market analysis and cost approach, to arrive at their valuation. They consider recent sales of similar properties in the area (comparables) to gauge the property's value. Additionally, they assess factors such as the property's age, condition, amenities, and any recent renovations or upgrades.
The final appraisal report includes the appraiser's professional opinion of the property's value, supported by data and analysis. This valuation serves as an important tool for buyers, sellers, lenders, and other stakeholders involved in real estate transactions, helping to ensure that the property is priced accurately and fairly.
