Whether you’re purchasing a home, selling Residential Real Estate, developing land as an investment, or conducting any other type of Real Estate transaction in Alliance, a professional property appraisal will streamline the process and establish the fair market value of any property. Most official Real Estate forms and documents include a line item of the estimated property value, yet only a licensed or certified appraiser is qualified to provide a completely objective evaluation along with a detailed and comprehensive written report.
Residential Real Estate Appraisal
What can a Alliance appraiser do for you? Our accredited professionals are available to assist you with:
Following the onsite assessment and inspection at your location in the Alliance region, Asap Appraisal Group appraisers determine the market value of Real Estate and comply with the regulations set forth by the Uniform Standards of Professional Appraisal Practices.
Our services include:
The Appraisal Process
The appraisal process includes the research, compilation and analysis of all pertinent data as it relates to your specific requirements. Asap Appraisal Group provides several types of reports in standardized or narrative book form.
An interior inspection or "walk-through" takes only about 20-40 minutes, depending on the size of the property, and is done during daylight hours. During the visit the appraiser does not move any furniture or personal belongings nor are they considered as part of the Real Estate. The appraiser is looking at overall condition and general building components and their condition. A list of all improvements and/or defects are objectively analyzed to determine overall condition and compiled in a detailed written report. Interior pictures are taken of each room and any value effecting items.
An exterior inspection is just like it sounds. The appraiser will pull in the drive or park on the street and take exterior photo's of the property only. This will require a short interview as to some interior attributes but the appraiser must assume that the interior's general condition is the same as the exterior's condition.
Neighborhood and surrounding areas
An assessment is made on a property’s proximity to services, facilities and amenities as they may (or may not) relate and affect its market value.
Public records are analyzed to confirm sales and make comparisons in the particular Alliance region. A range of public records and sources are used including zoning records, tax data, professional associations and other applicable publications.
Calculating the Market Value
Sales Comparison Approach
In its most basic form, this approach is built on the premise that the market value of a property is partly derived and comparable to similar nearby properties. The theory of substitution is applied when choosing comparables whereas the most similar and nearest properties are utilized. A minimum of 3 sold comparables that have occurred within the past 12 months are used within the report. This approach is given the most emphasis as it reflects the actions of buyers and sellers in the Subject's market place.
Since the market obviously relates to cost, this approach takes into account and analyzes market trends as defined by two specific elements: Land value and the improvements, minus depreciation (if applicable). This approach is typically only completed when the Subject being appraised is a new or newer home.
Generally reserved for valuations for investment properties, determining the market value using the income capitalization approach relies on the perspective that the potential earning power of Real Estate is significant when calculating its actual value. Income capitalization techniques are used to analyze sales data that measures potential profit and loss.
Alliance Real Estate Appraisers
Asap Appraisal Group provides complete appraisal services for:
- Residential properties
- Multi-Family properties
- New construction appraisals
- Condominium appraisals
- Land appraisals
We do not appraise commercial or personal property. Please call us for more information or for a free consultation on your residential property.