Serving Jackson, Josephine, and Klamath Counties
Southern Oregon's Premier Appraisal Firm
COMMON QUESTIONS
Everything You Need to Know
Learn about our business, and why we're the right appraisal firm for you. Find a list of frequently asked questions below. If there’s something we've missed, please reach out and let us know how we can help you.
What is an appraisal and why do I need one?
A real estate appraisal is an unbiased opinion of what a home or property would most likely sell for if offered on the open market with adequate exposure time. For lending purposes, these must be completed by licensed or certified appraisers. There are many reasons why someone would need an appraisal--lending purposes, estate planning, marriage dissolution, and mortgage insurance removal among other things. The vast majority of appraisals are for lending purposes.
How should I prepare for an inspection?
A lot of this depends on the type of appraisal. If you're having an exterior and interior inspection for a lender, make sure the appraiser has full access to the exterior of the house (no locked gates or outbuildings). In addition, we will be taking pictures in every room of the house per lender guidelines. If its an FHA, VA, or USDA appraisal, we will need to check your attic and crawl space (underneath the house). During the inspection we will do a sketch of the exterior of the house and take notes regarding the quality, condition, bedroom and bathroom counts, layout, finishes, and deferred maintenance. Generally, it is best if you save your questions or lists of updates or features for the end of the inspection. This way we have already looked over your house and we won't miss any details during our inspection process.
Will the appraiser have an idea of value during the inspection?
While the appraiser may have a general idea of the value when they do the inspection, they are not allowed to discuss it. If your appraisal is for lending purposes, the appraiser must follow AIR (Appraiser Independence Requirements). We cannot discuss value and if the borrower, seller, real estate agent, or broker tries to influence the appraiser or suggest value, the appraiser could be in violation of these requirements and will likely have to back out of the appraisal and report the circumstance to their client. It is best to not discuss this during the appraisal inspection.