Frequently Asked Questions

Below is a short list of frequently asked questions.You may also go to our links page, for further information from other appraiser related sites.

What is an Appraisal
What is an Appraiser
You said that an Appraisal is an opinion of value. What kind of value are you talking about?
O.K. then.What is Market Value?
Can I get a comp check? I need to know if the property is worth enough to order an appraisal.
When I order the Appraisal, can I tell you the value I need to make the deal work? Or say, not to do the Appraisal if it won't make the value?
But I just need a quick value check, or maybe just a range the value may come in at.

What is an Appraisal

An Appraisal is the act or process of developing an opinion of value

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What is an Appraiser

An Appraiser is one who is expected to perform valuation services competently and in a manner that is independent, impartial and objective.

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You said that an Appraisal is an opinion of value. What kind of value are you talking about?

Value is defined as the monetary relationship between properties and those who buy, sell or use those properties. The value that is used by Appraiser's in most assignments is called Market Value.

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O.K. then.What is Market Value?

The definition of Market value is : The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consumation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby ; 1. buyer and seller are typically motivated ; 2. both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest. ; 3. a reasonable time is allowed for exposure in the market place. ; 4. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto ; and 5. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale

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Can I get a comp check? I need to know if the property is worth enough to order an appraisal.

We can send you a list of properties that have sold in your area close to your property. It can be all the properties that have sold in the past 3 months with in 1/4 mile or with in a 1/2 mile for the past 6 months or what ever you choose. Then, you can decide if you want to have an appraisal done. If you want us to give you our opinion of what your property is worth, either by giving you a value range your property may fall between or an opinion of it's market value, by law, that is considered an appraisal. We can appraise your property by using data from public records and never see your property. This is called a desk top appraisal. We can appraise your property with seeing the property only from the street. This is called a 2055 exterior only appraisal. Or we can perform a full interior and exterior appraisal for you. Please understand that by law, any opinion of value given by a licensed Appraiser is considered an appraisal and must conform to the Uniform Standards of Professional Appraisal Practice.

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When I order the Appraisal, can I tell you the value I need to make the deal work? Or say, not to do the Appraisal if it won't make the value?

NO..... new laws have been passed that make it illegal to influence the Appraiser in any way on the value conclusion. An Appraiser does not know what the value for a property is until he/she has done the appraisal. So not doing the appraisal if the value isn't there is a moot point, as the appraisal will already have been done at that point.

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But I just need a quick value check, or maybe just a range the value may come in at.

If you need a quick value check. You can go to zillow.com or reply.com . If you need a range of value with comparables, you can go to eppraisal.com . Any values given by these websites is the sole opinion of these sites and has no connection in any way with DependAppraise.

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