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For specialist in non-lender private appraisals, which are perfect for any request wherein a valuation is required a parcel of real estate, but the appraisal isn’t to be used by a bank or lender. These are easy to understand and great for various applications. They contain all the information and detail you would find in a full “mortgage appraisal”. The appraisal process used to develop a private appraisal is similar to its mortgage appraisal counter-part, following the same standards and research methods. A private appraisal is a full appraisal and includes all the same steps, research, market analysis and appraiser conclusions for final value for a specific client.
Non-lender Private Appraisal
A residential appraisal is an unbiased estimate of what a buyer might expect to pay - or a seller receive - for a parcel of real estate, where both buyer and seller are informed parties. To be an informed party, most people turn to a licensed, certified, professional appraiser to provide them with the most accurate estimate of the true value of their property.
An appraisal starts with an inspection. An appraiser's duty is to inspect the property being appraised to ascertain the true status of that property. He or she must actually see features, such as the number of bedrooms, bathrooms, the location, and so on, to ensure that they really exist and are in the condition a reasonable buyer would expect them to be. The inspection often includes a sketch of the property, ensuring the proper square footage and conveying the layout of the property. Most importantly, the appraiser looks for any obvious features - or defects - that would affect the value of the house.
Once the site has been inspected, an appraiser will use one or more relevant approaches to determining the value of real property: an analysis of comparable sales, a cost approach, and, in the case of a rental property, an income approach.
Independent Home Appraiser & Valuation Consultants
A professional appraisal will provide you with the most probable, "as-is" sales price of your home in the current market. This estimate of value will help you and your legal counsel calculate divorce equity in the home and determine whether you will sell the property and split the proceeds, or whether one spouse/partner will buyout the other.
"Who gets the house?". In most divorce cases, the Court won't usually force the parties involved to "buyout" the other party's interest, but it may however order the sale of the home, so each party gets an equal share of the equity. Regardless of the situation, it's a good idea to order an appraisal so both parties are fully aware of what the true market value is.
Attorneys and Accountants rely on our values when calculating real property values for estates, divorces, or other disputes requiring a value being placed on real property. We understand their needs and are used to dealing with all parties involved. We provide appraisal reports that meet the requirements of the courts and various agencies.
Often the divorce date differs from the date you order the appraisal. We are familiar with the procedures and requirements necessary to perform a retrospective appraisal with an effective date and Fair Market Value estimate matching the date of divorce. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
We also know how to handle the sensitive needs of a divorce situation.
We understand every home is different and when you order a “tax protest” appraisal you will receive a customized report that illustrates the current market value of your home! The appraisal will include a comprehensive analysis of your neighborhood and comparable properties within your market area. Armed with this report you can devise a strategy and have the proper documentation to appeal your property taxes. Our local appraisers have experience and knowledge in your market areas to provide this service and help you reduce your taxes now!
Protest Property Tax
Settling an estate is an important and sometimes stressful job. As an executor you have been entrusted to carry out the wishes of the deceased as swiftly and exactly as possible. Your attorneys and accountants rely on our values when calculating real property values for estates, divorces, or other disputes requiring a value being placed on real property. We provide appraisal reports that meet the requirements of the courts and various agencies.
Settling an estate usually requires an appraisal to establish Fair Market Value for the residential property involved. Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retrospective appraisal with an effective date and Fair Market Value estimate matching the date of death. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Having a professional appraisal gives the executor solid facts and figures to work with in meeting IRS and state agency requirements. We are there to stand behind the appraisal if it is challenged.
Real Property Valuations for Estates & Probate Purposes
Our Appraisers have provided numerous valuation services for attorneys and our reports can sometimes be customized to accommodate attorneys’ needs, rather than using the typical one-size-fits-all approach provided for lending institutions.
As Attorneys often represent their client’s interests during the most difficult times, therefore we strive for maximum sensitivity and professionalism. Whether a client is dealing with the death of a family member or the dissolution of a marriage, it is a difficult situation for all parties involved. Anchor Pacific Appraisal offers several solutions for many legal matters and the most common these days seem to be divorce appraisals and estate or probate appraisals.
Appraisals for Attorneys
Our local appraisers can help you determine accurate property values in many areas you may be considering for investments. It is completely normal to get a property appraisal. Some investors use appraisals to determine the amount of appreciation or depreciation that a property has received. This can be a huge factor in weighing the actual profits experienced or lost on an investment.
Taxation is another valid reason to get an appraisal. You don’t want to be paying high annual taxes because your county tax assessment is incorrect. An update to the actual value of your property is crucial and not disputing the local tax assessor tells you might be a costly mistake. Lowering taxes on investment property is one of the ways that you can build your real estate wealth.
Appraisal for Real Estate Investors
As a real estate agent, you likely do your own market analysis to list a property. Unfortunately, homeowners often have an emotional attachment to their homes and are less willing to list the homes competitively. If you encourage your clients to order an appraisal it can expedite the listing process and typically reduces the “days on market”. Full appraisals will also provide you with a sketch/measurement to ensure the GLA listed on MLS is accurate. This is a great tool to ensure the home your selling or buying is the size advertised!
Most great realtors will tell you that an appraisal can put you ahead of the curve and alleviate the seller’s fears of getting an unbiased opinion of “fair market value”. In today’s housing market if you list your clients’ homes incorrectly or over-bid it could mean loss of capital, or excessive days on the market and both make for an unhappy client! You should encourage your client to order an appraisal to serve as an unbiased second opinion.