COMMON APPRAISAL QUESTIONS
WHAT ARE THE STEPS OF THE TYPICAL APPRAISAL PROCESS?
We like to begin every appraisal by talking with our clients. It is important that we understand your unique property and the reason you are requesting an appraisal. After this conversation and initial property/market/geographic location research, you will receive a proposal that details the appraisal cost and completion date. Once the appraisal assignment has been awarded, an engagement letter is signed. We then gather detailed market information on your property and comparable properties before performing site visits. Following site inspections, extensive research is conducted to identify pertinent property data and to determine the correct appraisal approach for your specific property.
All factors that contribute to the property's highest and best use are considered and used to develop the appropriate approaches to value. Writing an appraisal report is similar to preparing and in-depth research project. The process of completing an appraisal is not flashy. It is precise and systematic, shortcuts cannot be taken and appraisals cannot be rushed. Appraisal are unbiased valuations formed using multiple data points.
When the final appraisal report is completed, we want to ensure you fully understand how the valuation was determined and have confidence in the quality and depth of our work. We offer to walk clients through their appraisal reports, in a one-on-one sit down session, in our Old Town office.
Our appraisals are more than the final number.
WHAT DIFFERENTIATES A SILL APPRAISAL GROUP REPORT FROM A COMPETITOR'S?
Every appraisal that we complete is unique. Owner, Andrew Sill holds the highest designation awarded by the Appraisal Institute, MAI. This designation ensures every appraisal we complete is of the highest caliber, thoroughly researched, evaluated, and expertly defined.
WHAT CAN I EXPECT FROM THE SILL APPRAISAL GROUP DURING THE APPRAISAL PROCESS?
Every client of the Sill Appraisal Group can expect prompt, clear communication, close attention to your specific property needs, and a final appraisal report that is professional, accurate, and actionable.
HOW LONG DO APPRAISALS TYPICAL TAKE TO COMPLETE?
Every appraisal is unique. With that said, most appraisals came be completed in 3-6 weeks. We are able to accommodate shorter timelines as needed. These appraisals would be considered "urgent" and billed accordingly. All fees will be clearly stated in the engagement letter.
WHAT IF I AM NOT SURE IF I NEED AN APPRAISAL OR NOT?
We will gladly speak with you to determine if an appraisal is necessary. We also offer more in-depth consultation sessions for a fee. Prior to a consultation session, we will request basic property information and conduct preliminary research before meeting with you.
IS MY FINANCIAL AND PROPERTY TRANSACTION INFORMATION KEPT CONFIDENTIAL?