We complete appraisals for a host of other purposes, principally estate planning, legal disputes, capital gains and land donations. Each type has specific requirements and each differs in the amount of detail required.
The extent of required content determines the appropriate type of appraisal report to be prepared. Appraisal reports are either a narrative report (from concise to detailed), or a generic form report (usually appropriate for residential properties).
Some appraisal assignments are known as “retrospective” appraisals and involve the valuation of a property at a point in time many years back. We have access to comprehensive data going back to over fifty years.
We appraise a broad array of asset types. Residential properties appraised include single-family dwellings from mobile homes, townhouses and cottages to large executive houses. Apartment buildings and rural properties are also appraised. Commercial / industrial properties appraised include mixed-use properties, office and retail buildings and condominiums. Other properties include churches, new construction, hobby farms, equestrian facilities, rural land and resorts.
What is an Appraisal?
An appraisal is a formal, impartial estimate or opinion of value of an adequately described property, as of a specific date, and supported by the presentation and analysis of relevant data.
How is Value Estimated?
There are three basic methods of arriving at an indication of value:
To arrive at a final estimate of value, the appraiser places greatest reliance on the approach supported by the most reliable, factual and relevant market data.