What some appraisal companies don't want you
to know…
 When
shopping home appraisal companies, most people, for lack of a better
gauge, rely on the price of the appraisal as the determining factor.
The majority of the time, the difference in the fee charged from one company
to the next will be $50 to $200. This may seem like a large difference,
however let's put this in perspective. For many, the purchase of a home
is the largest investment they will ever make. If you were going to invest
your life's savings, would you rely on the "quickest" financial
advisor, or the one that would devote the most time to your investment?
A home appraisal is very similar. You are about to invest tens, or hundreds
of thousands of dollars. An additional fifty or a hundred dollars is inconsequential
amount of money to spend in order to protect that investment.
Many home appraisers perform two, three, or even more appraisals in a
single day. They can accomplish this because they spend no more than an
1-hour on any single appraisal, including report preparation. At Home
Pro Appraisals of Las Vegas we take a different approach. We simply spend
as long as it takes. We schedule no more then one (1) home appraisal
per day for each of our certified appraisers, and we perform it thoroughly.
In addition, preparing our detailed report generally takes 1-½
times as long as the on-site appraisal itself. Before you mistakenly
trust your investment to a "production line" company, ask them
how long they will spend performing your appraisal.
What you should know about appraisal
reports
Many appraisal firms utilize a checklist style report. The appraiser checks
off a series of boxes, and scribbles comments in the margins, as he races
through the house. At the end of the appraisal, these scrawlings become
your report. Although this saves the appraiser time, these reports are
hard to follow and at times illegible.
Other companies produce an on-site, computer-generated report. There are
a couple of problems with this format. After spending one or two hours
on an appraisal, the last thing anyone wants to do is stand around and
watch someone type a report. Because of this, the report is constructed
mainly of "standard" verbiage, and contains very little specific
information. Furthermore, by producing the report on-site, the appraiser
has no opportunity to further investigate any problem situations. It is
for these reasons that South Florida Home Appraisals reports are prepared
off-site unless otherwise specifically requested by the customer. Our
report consists of a narrative style, custom bound, type written, laser
printed booklet, which includes digital photographs of the exterior as
well as problems uncovered. Generally, the report ranges from forty to
fifty pages in length, and includes a table of contents.
The Standards of Practice
All of our appraisals are performed in accordance
with the Standards of Practice and Code of Ethics of the American Society
of Home Appraisals. Don't be mislead by claims to adhere to "other
standards". ASHA is the standard of the industry, and assurance of
a quality appraisal.
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