The Appraisal Process

The purpose of an appraisal is to estimate market value in mortgage/financing, estate evaluation, refinancing, PMI removal, or tax appeal.

A visit to the property is required to determine the characteristics of a dwelling:
The appraiser measures the exterior dimensions of the home and briefly walks through the house to get an idea of the general condition and room count.

quality amenities/upgrades floor plan
construction condition/renovations marketability
room count dwelling size, square footage overall appeal

In addition to the physical inspection of the property, certain physical, social, and economic factors surrounding the property will also influence the final estimate of its market value.

The appraiser has no knowledge of the existence of potentially hazardous materials which may or may not be present on the property. The presence of such substances might affect the value of the property. The value estimate contained in your report is predicated on the assumption that there is no prsence of any material or potential hazard which would cause a loss of value. The appraiser is not qualified to detect such substances or conditions, and no responsibility is assumed for any such conditions or for any expertise required to discover them. The client is urged to retain an expert on the field, such as an inspector.

No warranty or guarantee is made or implied as to the condition of the roof, slab, electrical systems, air conditioning and heating system, insulation, appliances or any other components of improvements. This would require an inspection form a qualified expert in these areas.

© 2002 Graham & Associates, Inc.