The first thing our experts at the Home Appraising Group do is inspect your home to get information about its current state. One of our appraisal pros will come to your home and take notes on the condition of the property, the number of bedrooms and bathrooms, any amenities you have in order to create a fair appraisal. A sketch of the floor plan is one way that some inspectors like to graphically describe a properties layout and size. Of high priority are any notes on defects, problems or other issues that an assessor feels would impact the property valuation.
After the in-person inspection the next step is to determine the value of the property. This is done by applying multiple analytical approaches to arrive at the true property value. Those we most commonly employ include: the paired sales examination, the replacement cost evaluation, and an income method.