There are two types of reports recognized to meet minimum reporting standards: Restricted Appraisal Reports and Appraisal Reports. Each report type has its own set of guidelines. Restricted Appraisal Reports are for the sole use of the client. Restricted Appraisal Reports state information significant to the solution of the appraisal problem but do not disclose specific details. Appraisal Reports contain a summary of all information significant to the solution of the appraisal problem. Restricted Appraisal Reports are most often used by individuals and Appraisal Reports are typically used by financial institutions.
Typically, when selling or purchasing a home, an appraisal will be used to assess the property's current market value. If the purchase is financed, the lender will order the required appraisal. In some instances, the lender may require the buyers to include an appraisal contingency in their offer. Our firm has a dedicated team who specialize in residential property appraisals. We consistently work to protect our clients by offering the most accurate appraisal possible.
An appraisal review is performed to reinforce confidence in the credibility and reliability of another appraiser's work and opinion of value. It is common in many professions to seek a second opinion. Especially in these cases, when validating an appraiser's opinion offering substantial value conclusions.
Our certified real estate appraisers provide expert appraisal services for a variety of litigation cases. These include divorce, bankruptcy, reorganization issues, contract disputes, contract of sale issues, partnership disputes, partial interest issues and condemnation. Hiring a qualified real estate appraiser can have a significant impact on the outcome of your case.