OAKCREST APPRAISAL SERVICES
When Integrity Matters
What is an appraisal?
An appraisal is the opinion of value of a professional appraiser. Preparing an appraisal requires the knowledge of and research into various market areas. It includes assembling and analyzing information relevant to a property and developing a supportable conclusion using the knowledge, experience and professional judgment of the appraiser.
What is the role of the appraiser?
The appraiser must provide objective, impartial and unbiased opinions about the value of real estate. In doing so, the appraiser provides assistance to those who own, manage, sell, invest in or lend money on real estate.
What qualifications must appraisers have?
At minimum, all states require appraisers to be state licensed or certified in order to provide appraisals to federally regulated lenders.
How do experienced appraisers add value to real estate transactions?
They bring knowledge, experience, impartiality and trust to the transaction. By providing ethical support they provide their clients with another tool to sound decisions with regard to real property.
What are the components of an appraisal report?
Most appraisals are reported in writing, although in certain circumstances, an appraiser may provide an oral appraisal. A written appraisal report generally consists of: a description of the property and its neighborhood; an analysis of the "highest and best use" of the property; an analysis of recent sales of comparable properties "as similar to the subject as possible"; and an analysis of any information regarding current real estate activity as well as market trends.
What are the most important considerations in the valuation of real property?
The value indicated by recent sales of comparable properties, the current cost of reproducing or replacing a building, and the value that the property's net earning power will support are often the most important considerations in the valuation of real property.
What is the range of services appraisers provide?
In addition to residential or commercial the appraiser may be able to assist with the following:
Estate planning and estate settlement. Tax assessment review and advice
Advice in eminent domain and condemnation property transactions
Dispute resolution—including divorce, estate settlements, property partition suits, foreclosures, and zoning issues
Feasibility studies
Expert witness testimony
Market rent and trend studies
Cost/benefit or investment analysis, for example, what will be the financial return on remodeling
Land utilization studies
Supply and demand studies
When hiring an appraiser, what types of questions should I ask?
The following questions would be appropriate:
Are you licensed or certified?
How long have you been in practice?
What level of experience do you have in this particular market and with this type of property?
Are you familiar with property in this neighborhood?
What types of clients have you had (homeowners, estates, lenders, relocation companies)?
Why Oakcrest Appraisal Services?
Each Office is Independently Owned
State Certified
FHA Roster
Familiar with all types of properties
Knowledgeable in all styles and techniques of construction
Prompt, professional service
Quick turn-around
Basic URAR, 2055 and Reviews will be returned within 24-36 hours upon receipt of your order (turn around time depends on complexity and locationof the subject as well as the availablility of comparables and access to the subject)
Complex projects are our specialty
Forensic Appraisals
Condemnation
Manufactured Housing Appraisals
PMI Removal
Competitive pricing
Oakcrest Appraisal Services,
Each Office Independently Owned
Phone: 601-720-4687 | Fax: 601-924-2504
Email: rhonda@oakcrestappraisalservices.com
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Copyright © 2004 Oakcrest Appraisal Services
