What to expect with a residential appraisal

Residential appraisals provide an unbiased opinion of a home’s value. During sales transactions, an appraisal ensures that the property is worth the amount being paid, both for the buyer and for the lender securing a loan.

How it works

Research + Data collection

First, our home appraisers will collect data about your home. This includes gathering information from the MLS about recent sales of homes of comparable location, size, and condition. It also includes looking at local tax records, past sales of the home, and surveys or other information about the home’s size. In a desktop appraisal, this is the only information used in the valuation.


Home inspection

Your appraiser will conduct a thorough inspection of the property.This is separate from the home inspection during a purchase because its primary goal is to establish the value of the home, not assess whether the building is habitable. The appraiser will confirm the size and condition of the home, as well as note anything that adds or detracts value from it.

Calculation of value

Soon after the inspection, our appraisers will return a report detailing our expert opinion on the home’s value. We base this on information about what similar properties recently sold for and what it would cost to replace or build the property. In the case of property intended for rental use, we also factor in the anticipated rental income the property could generate. 


Frequently asked questions

Have questions about the appraisal process? Browse our FAQ section or articles for answers to common questions or shoot us an email.

  • How long does a residential appraisal take?

    We strive to schedule the inspection quickly, with next-day appointments often available. Once we conduct the inspection, we deliver the report to you at or before the agreed-upon deadline, often within 1 business day of the inspection. 

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  • What if the value is different from what I expected?

    An appraised value is not always equal to what the market value of a home might be, especially during high-growth, competitive real estate markets. If an appraised value comes back lower than the listed price of a home, there are a few different potential outcomes. First, a seller may agree to lower their price so that the purchase can proceed. Second, the buyer may agree to increase their down payment. 


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How to get your appraisal started

1.

Request a quote

2.

Schedule an appointment

3.

Allow access during inspection

4.

Receive report within 1-2 business days

Contact us any time

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