Highest possible selling price versus most probable selling price. Realtors are obligated by their fiduciary relationship with the property owner to try to sell a property for its “highest possible” selling price. That is the definition of value that Realtors employ. The definition of value for real estate appraisers is different. Appraisers rely on market value defined as the “most probable” price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised; (3) a reasonable time is allowed for exposure to the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
Several items, if available, will help your appraiser to prepare a more accurate appraisal in less time. A survey of the house & property, a deed or title report showing the legal description, a recent tax bill, a copy of the original house plans, a list of recent improvements and any other related information would certainly be appreciated. A cashier’s check or money order as payment for the appraisal would also reduce our turn-around time.
An appraisal is an independent, objective opinion or value. The appraiser is not a home inspector, engineer, architect, electrician, plumber or contractor. The appraiser carefully inspects the house to determine the floorplan and the general overall condition. An appraisal does not include a guarantee of condition. The appraiser will observe any apparent problems and recommend appropriate specialized inspections. The appraisal will estimate the financial impact on market value resulting from such problems. Clients are strongly encouraged to seek the advice of experts regarding the structural or mechanical aspects of a home. Texas requires all real estate appraisers to be, at a minimum, state licensed or state certified and have fulfilled rigorous education and experience requirements and must adhere to strict industry standards and a professional code of ethics as promulgated by the Appraisal Foundation.
Stop guessing about real estate value! An accurate appraisal is very important because so much national wealth lies in real estate that the determination of its value is critical to the economic well being of society as a whole. It is the charge of the professional appraiser to determine these values by gathering, analyzing and applying data pertinent to a property. Without question, the professional opinion of the appraiser, backed by extensive training and knowledge, influences the decisions of people who own, manage, sell, purchase, invest in and lend money on the security of real estate. Also, since the appraiser is trained to be an impartial third party in the lending process, the appraisal serves as a vital “check in the system” and protects buyers from overpaying for property as well as lenders from over-lending to borrowers.
VIP Service – about 20% of our service capacity is available for a select group of new clients & homeowners. In addition to conventional, multi-family and condominium appraisals, we are also FHA approved! If you prefer immediate delivery of your appraisal via the Internet, we have the software to make it happen. We welcome the opportunity to be of service! Let us pamper you with our wide range of services! You’ll have peace of mind as we make your job a little easier!
Experience, expertise and a focus on customer service! Appraisers on our team have as much as 38 years appraisal experience here in the Metroplex. We have the expertise and all the technical tools needed to prepare credible, defensible appraisal reports for each property. We leave no stone unturned in our search for every dollar of provable market value. Everyone on our team has a very strong desire to provide VIP service to all of our clients.
Metroplex Appraisal Network knows that prompt service is the number one concern for our clients. Our entire operation is geared to finishing appraisals in three working days or less! While many appraisal firms take ten working days (two weeks) to complete an appraisal, our clients receive most reports in just THREE DAYS. Once we receive an appraisal request, we immediately arrange for an appraiser to set an appointment to visit the property. In many cases, we can set an appointment to visit the property the following day. Please be advised that the day we are allowed to visit the property is our first working day. Email delivery of the completed appraisal is anticipated by the end of the third working day provided there is no problem securing advance payment for our services. If clients want hard copies overnighted, reports will be received the following day via express mail.