It’s critical that you choose an appraisal firm that knows the local market and takes the time to devote to analyzing all of the pertinent appraisal factors as they relate to your property.

An appraisal is a detailed analysis of all the factors that determine the value of a property including:

• Location
• Condition
• Size
• Proximity to facilities
• Comparable properties

To determine comparable properties, an appraisal typically includes a review of:

• Sales of similar properties nearby
• Recent tax assessments
• Replacement Cost (also called the “cost of rebuilding”)

At the completion of an appraisal, you can expect a comprehensive report that details the above information in a format acceptable to you and your lender or other interested financial institution.