Robinson Appraisals

    Phone: 989.684.3553
Fax: 989.684.1399
Cell: 989.239.3016
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What is an Appraisal?

A real estate appraisal is done through an unbiased third party such as Robinson Appraisal & Associates; a licensed, certified, professional appraiser.  The purpose of the appraisal is to inform both the buyer and the seller of the estimate of value for the real estate in question.  This value is generated as a result of the appraiser following an established appraisal process that allows them to arrive at an informed decision regarding the current value of the property. 

 

 
 
The Appraisal Process



The Inspection

·         Determine the true standing of the property as it stands.

·         Physically identify the various features to ensure it meets reasonable expectations. (# of bedrooms and bathrooms, physical location of the home)    

·         Provide a sketch of the property with a true reflection of proper square footage and layout of the property.

·         Distinguish obvious defects or features that would have a large impact on the value of the house.


Data Collection & Analysis

·         Specific data is gathered during the inspection.  (i.e. Location, condition, amenities, size, etc.)

·         General data is gathered from various sources.

o    Local Multiple Listing Services – provide data on recently sold homes that might be use d as comparables.

o    Tax records and other public documents verify actual sales prices in a market.

o    Flood zone data is gathered from FEMA data outlets, i.e. InterFlood

o    The appraiser’s past experience in creating appraisals for other properties in the same market.

Determination of the appropriate approach to value.
  • Cost Approach – Determination of the cost to replace the home, less physical deterioration and other factors, plus the value of the land. 

  • Sales Comparison Approach  – Making a comparison to other similar, nearby properties which have recently sold.  This is normally the most accurate and best indicator of value for a residential property.  

  • Income Approach – Used primarily when appraising income producing properties - it involves estimating what an investor would pay based on the income produced by the property.

Final estimate

The appraiser will take the data collected throughout the appraisal process and consolidate it to reach a final estimate.  At Robinson Appraisal & Associates, we will give you the most accurate property value, allowing you to make the most informed real estate decisions.


 

 

The Final Product

A professional appraisal report performed by a qualified, state-licensed appraiser that provides you with an objective, third party opinion of the property's current Market Value. 

The report will include:

  • Photos of the appraisal property.

  • A sketch of the appraisal property. 

The report will identify:

  • The client and other intended users.
  • The intended use of the report.
  • The purpose of the assignment.
  • The type and definition of the value reported.
  • The effective date of the appraiser's opinions and conclusions.
  • Relevant property characteristics:
    • Location attributes.
    • Physical attributes.
    • Legal attributes.
    • Economic attributes.
    • The real property interest valued.
    • Non real estate items included in the appraisal such as: personal property, including trade fixtures and intangible items.
    • All known: easements, restrictions, encumbrances, leases, reservations, covenants, contracts, declarations, special assessments, ordinances, and other items of a similar nature.
    • Division of interest, such as: fractional interest, physical segment and partial holding.
    • The scope of work used to complete the assignment.
   
 
 
 
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