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The Appraisal Process |
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CONTACT
Joanna Conde Conde Appraisal Associates
14530 N 90th Lane
Peoria, AZ 85381
Phone: 623-933-0797
FAX: 623-583-7409
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E-mail
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Photos by PhotoDisc
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The Appraisal Process is not as simple as walking through a home!
Following are the steps we take to estimate the value of a property.
- After we receive an order we research the owner, previous sales and current listing (if it is listed) of the subject property.
- We make contact with the individual that will give us entrance to the property and set a date and time to see it. If the individual is the homeowner or real estate agent we try to obtain additional information so that we can come prepared with a floor plan if there is one available, and information on both current listings and current sales of similar properties.
- When we arrive at the subject property we always take pictures of the exterior of the property and often of the interior.
- We measure the house and often draw a floor plan of the interior if we do not have the developer's floor plan available.
- We ask as many questions as we can to obtain information about the roof, heating and cooling systems, upgrades and other things that are pertinent to the structure and the value of the house.
- After we have inspected the property we determine which comparables are truly most comparable to the subject.
- We take exterior pictures of the comparables.
- We contact the listing agents or current homeowner of properties we use as comparables whenever possible to confirm the information in the listing and to find out what the house was really like.
- We also must research the plat map, flood map, census data, neighborhood sales data, neighborhood marketing conditions in preparing the report.
- We check with local builders as well as with national sources to determine costs and prices in order to develop the cost approach.
- Especially for larger parcels or for horse properties, we research land sales to estimate the land value.
- We take into consideration the view and location of the subject property compared to comparable properties.
- After all of the information has been compiled we complete the forms necessary for an estimate of market value.
- We provide addendums to explain our adjustments when not covered in the body of the report.
- We also do narrative reports when the property is best served by a narrative report and the client wishes a narrative report.
- We send the report to the client and are available for questions.
We follow the requirements of the Uniform Standards of Professional Appraisal Practice.
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