Port St Lucie Appraisal Services
State Certified Residential Real Estate Appraisers
(772) 678-2980

Real Estate Appraisal Process

Is there anything a homeowner can do to help the appraiser?

To assist an appraiser and to make the appraisal process go smoothly please provide the appraiser with the following information when he/she calls to schedule an appointment for the appraisal inspection. Tell the appraiser the number of bedrooms and bathrooms, additions (both permitted and not permitted), upgrades such as flooring, updated kitchen and bathrooms, new windows, roof, etc. This information can help the entire appraisal process go smoothly and quickly. This helps the appraiser with the initial research they do before visiting your property as it helps the appraiser research comparable properties that have sold in your market area.

When an appraiser visits a property and it is completely renovated or larger in size than public records indicates because you recently added a family room it may delay the completion of the appraisal as the appraiser will probably have to return to their office to do further research to find comparable sales that are similar to your property. By just giving the appraiser information before the inspection can enable the appraiser to provide a faster and accurate appraisal.

Also, if you live in a condominium or a community with a homeowners association it is helpful if you provide the appraiser with the name and phone number of the association so the appraiser can obtain further information that is needed for the appraisal report. It would be more helpful if you could contact the association or management company to find out how many units/properties there are in the community, the number or percentage that are rented, any special assessments, monthly or quarterly condo or association fees and a list of amenities. Many times it is difficult for an appraiser to obtain this information or property managers want to charge the appraiser a fee which an appraiser will not generally pay or will add it on to the appraisal fee.

Is there anything I can do to prepare the property for an appraisal?

Yes, clean your house! A dirty house can affect the appraiser's opinion of the overall condition of your house which can negatively impact the value of your property. Also, an unkept house can make the appraiser believe there are other issues with the home, such as plumbing, electrical, roof, etc. that are not being taken care of.

How long does an appraisal take?

It will depend on the complexity of the appraisal assignment.

Typically the inspection takes twenty minutes to one hour depending on the size of the home. The appraiser will view each room and measure the home to determine the gross living area. The exterior of detached single family homes are measured as the appraiser can measure the length of exterior walls. The interior of condominiums, townhomes and villas are measured as many times the appraiser can't access exterior walls for these types of properties.

At the time of the inspection the appraiser will take photos and notes which include the total number of rooms, number of bedrooms and bathrooms, construction materials, amenities, upgrades, additions, flooring, wall surfaces and determine an overall condition of the property.

After the inspection the appraiser will analyze information from public records, the county property's appraisers office and the Multiple Listing Service (MLS) to determine which comparables that recently sold in the neighborhood are the most similar to the subject. The appraiser will then drive by each comparable and take notes and photograph the exterior of the property. (typically 1 hour)

The appraiser will then type the report which will include information from the inspection of the subject property, information from public records, the county property appraisers office, Multiple Listing Service and real estate market statistics. Then the comparables will be analyzed and compared to the subject property and adjusted for the differences (sales comparison approach). The cost approach may also be included if the dwelling is new or newer and the income approach will be used if it is an investment property and there is adequate rental data available. After analyzing all this data an estimated value is determined. (2 - 3 hours are usually needed to type the report).

The typical appraisal will take a total of 5 to 6 hours.

To order an appraisal call (772) 678-2980.