FAQs
- What is your typical process for working with a new customer?
The appraisal process includes the following: *The Appraisal Inspection – The appraiser would come by and do a physical inspection which would include measuring the property to attain an accurate GLA (Gross Living Area), shoot photos of the interior/exterior, do a visual inspection to determine condition and account for any necessary repair or updates. *Comparable Sale Selection and Adjustments – The appraiser would do a thorough market analysis of recently sold sales and available listings. 4 Comparable sales would then be chosen which are most similar to the subject. Adjustments would then be made for various discrepancies which include: Square footage, lot size, age, condition, room count (bed & bath), basement, heating/cooling, garage, amenities, location, style, view, obsolescence etc. The appraiser would also analyze recent market trends and determine if the subject is in a declining, stable or increasing market and then make appropriate “time” adjustments. *Final Reconciliation – The appraiser would then carefully analyze the pre/post adjusted sales price of the comparables, determine which sale(s) deserve most weight (There are many factors that can determine comparable weight which include: proximity to subject, the most recent sale, similar condition, size, style, net/gross adjustment % etc.) and arrive at an appraised value for the subject property.
- What education and/or training do you have that relates to your work?
New York State Certified, FHA Approved.