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Appraisal 101

A common question is what is the general process of an appraisal? For your convenience, below is a list of the common steps involved in a residential appraisal.

The Process of an Appraisal

*Appraiser visits the property for a visual inspection. Someone of legal age must be home to let the Appraiser have access to the interior of the property

*Appraiser will take photos of the exterior and interior of every room in the home

*Appraiser will measure the exterior foot print of the dwelling

*A sketch of the interior of the dwelling will be completed

*Appraiser may ask basic questions about the features within the home or age of components or systems and renovation work.

*Inspection of basement area and finishing if one is present

*Appraiser will make note of views and location appeal

*A gathering of sales data from the Multiple Listing Services and Tax Assessor’s records will occur to compare with your home.

*An Appraisal Report will be completed and sent to the financial institution within seven business days

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JBL Appraisal Services