What exactly is an appraisal?

An appraisal is a written or verbal report about a value of property. The appraisal report can be written with specific scope, meaning – how long would it take me to sell this house? Or if I want to sell this house in the next 30 days, what do I need to price it at?

Why get an appraisal?

Appraisals are unbiased, consider the market data, market conditions, and other competition. They are the best indicators of value in the long run.

When is an appraisal necessary?

Appraisals could be necessary at several different times. They are mandated by law to occur during new sales when it is a Federally Related Transaction, valuing an estate for Medicare/Medicaid, transactions within families, other times when a supported market value should be considered. Appraisals are unbiased and use real market data.

What is an inspection report?

Inspectors vs Appraisers. Inspectors are different than appraisers. Inspectors deal specifically with the property and talk about the overall condition of the property. They typically work for the buyer’s agent and only point out potential issues with systems and physical structure of the house. They are experienced in a different skill set than what we do, but we always recommend clients get and inspection, because you need to be an informed buyer.

What certificates do you have?

Tyler D Warne has his Certified Residential appraiser’s license and holds his SRA designation. The SRA designation is one of the highest levels of residential appraisal that can currently be obtained. He is also the President of the Montana Chapter of Appraisal Institute, the leader in valuation education.