On the surface, it may seem like an appraisal is a simple, fast process. An appraiser shows up at your house for a short time, takes some photos, notes and measurements, and that’s it. However, the home visit is only a part of the appraisal process. In fact, a typical appraisal report requires 12 to 13 combined hours by appraiser and staff to complete. At First American Staff Appraisals, we follow thoughtful and thorough procedures to provide a complete and accurate appraisal
PRELIMINARY INFORMATION GATHERING
The appraisal process usually begins with a telephone or in-person interview with you about your home as well as thorough preliminary research of recent home sales and listings in your neighborhood. In the language of appraisal, these sales and listings are referred to as ‘comps’, which is short for comparable properties.
IDENTIFYING UNIQUE CHARACTERISTICS
If the appraiser is aware in advance of any unique elements of your home, such as a finished basement or design by a historically significant architect, additional research will be done on the front end to find comparable homes exhibiting the same or similar characteristics, regardless of how far away those comparable homes may be. Our appraiser makes dollar adjustments to reflect differences in comp properties. Upgrades like fireplaces, air conditioners, recent redecorating, or home improvements can add value to a property.