A.P. APPRAISAL SERVICES
RESIDENTIAL APPRAISAL SERVICES
Phone: 416-988-3102 | Fax: 1-866-268-3065 | E-mail: apappraisalservices@gmail.com
FAQs
Frequently Asked Questions
1. What is the difference between an appraisal viewing and a home inspection? People often confuse home inspections with appraisal viewings. An appraisal viewing is much shorter in duration than a home inspection, and the appraiser is there to gather information to determine the market value of the property. Appraisers are not inspectors or engineers. Where the appraiser does require construction knowledge, appraisers are not required to inspect the full integrity of the structure.
2. What should you expect from an appraisal visit? At the time of the appraisal visit, the appraiser enters and views every room inside the property, while taking photos of each room. The appraiser will also take measurements of the dwelling inside and/or outside.
3. How long does an appraisal viewing usually take? Depending on the type of property, an appraisal viewing can take anywhere from 10 minutes to 45 minutes.
4. How long does it take to get an appraisal report? Every property is unique and depending on the complexity of the property and the state of the market, the turn around time can vary. The appraiser is to keep the client informed of any known turn around time or possible extension due to complexity.
5. How is an opinion of value derived from the marketplace? A professional opinion of value is reached with the appraiser’s combined knowledge of the subject market and research using sources such as multiple listing services, assessment information and land registry. These sources and tools allows the appraiser to make the proper adjustments in the sales comparison approach section of the appraisal report.