According to the Appraisal Institute, appraisals may be required for any number of reasons, including: to facilitate the transfer of ownership of real property; to help prospective sellers determine acceptable selling prices or prospective buyers decide on offering prices; and to establish a basis for the exchange or reorganization of real property or for merging the ownership of multiple properties. Reasons can also relate to financing and credit, legal and tax issues, or investment counseling, divorce, estate planning &/or for inheritance purposes and decision making.
Fair distribution of assets, such as divorce, dissolution of business partnership. Estate planning, appeal of property tax assessment, insurance value due to damage, such as fire, earthquake, flood, etc.
The loss of a loved one is a difficult time in life and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, the majority of Americans do not have dedicated estate planners or executors to handle these issues. Also, in most cases, a home or other real property makes up a disproportionate share of the total estate value.
Here too, an appraiser can help. Often the first step in fairly disposing of an estate is to understand its true value. Where property is involved, the appraiser can help determine the true value. At this point, equitable arrangements can more easily be arrived at among disputing parties. Everyone walks away knowing they've received a “fair deal”.
We understand the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive attributes of their property along with information about any recent sales or listings in their neighborhood that they want considered.
PURCHASE OF A HOME
One of the most important issues involved in purchasing a property is developing an opinion of what it's worth so that you can make an informed offer to purchase. A professional appraisal report performed by a qualified, state-licensed appraiser can provide you with an objective, third party opinion of a property's current Market Value. And for the small price of this service, you can give yourself "peace of mind" prior to making an offer to purchase that you're offering a fair price for the property.