Frequently Asked Questions > Common Appraisal Questions (7 entries)

Search the FAQ for entries containing:
  • What is an appraisal?
    An appraisal is an unbiased estimate of what a buyer might expect to pay, or a seller receive, for a piece of real estate (e.g. a home, a vacant piece of ...
  • What does an appraiser do?
    An appraiser makes a professional, unbiased estimate of market value. An appraiser then presents their analysis in a report provided to the customer.
  • Why do I need an appraisal?
    Some of the more common reasons for getting an appraisal are: To obtain a loan Establish replacement costs for insurance purposes As ...
  • Is an appraisal the same thing as a home inspection?
    No. A home inspection is an evaluation of the condition of the structure and mechanical systems of a house. A home inspector provides an analysis of the condition ...
  • What is in an appraisal report?
    An appraisal report must reflect a credible estimate of value and identify each of the following: The client and other intended users The intended use ...
  • Are appraisers certified?
    Licensing and certification regulations vary from state to state. However, most states tie their regulations to hours of coursework, test, and actual experience. Most states also require continuing education courses for ...
  • Who do appraisers work for?
    In general, appraisers are employed by lenders to get an estimate of the value of the real estate involved in a loan transaction. We are also hired by attorneys, CPAs ...