How Can a Client Ensure a Faster Appraisal Process?
So you find out that you need an appraisal on your real estate. What do you, the client, need to contribute to the process? Is it enough to contact the appraiser, describe the real estate, and ask about the fee and turn-around time? After this, the appraiser can just figure it all out, right?
The truth is that many appraisers take such a long time because they must dig up basic, but crucial information on the subject property. Such information includes:
- legal description of the property
- sale history
- recent property taxes
- annual property insurance premium
- lease information
- whether the property has undergone renovations or updates and the costs thereof
- whether there are any contracts on the property, such as CRP
- whether there are special easements
This list is not comprehensive, but it names many common items which are crucial to an appraisal. The leg-work and research that the typical appraiser invests into digging up such information, and finding out what information is even relevant to the subject property, often proves to be quite time-consuming. And yet, the client could be of great help to the appraisal by providing this information from the beginning of the process.
The time spent on an appraisal comes right down to the client being knowledgeable about the subject property. The more a potential client knows about the real estate, and the more informed the appraiser is right from the start (thanks to a knowledgeable client), the more likely a particular appraisal assignment will be a smooth and timely process.
Spurgeon Appraisals regularly appraises a variety of property types. We have experience appraising farms, residences, and commercial properties. We pride ourselves on providing excellent customer service and quality appraisals. Contact our team to see how we can meet your appraisal needs and exceed your service expectations.
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