Existing House Appraisal

The inspection itself doesn't take very long. In just four simple steps, we'll be on our way back to the office to crunch numbers.

Step 1    We measure your house and outbuildings. We need to measure the foundation of the main structure; individual room measurements are not necessary.

Step 2    We take pictures of each side of the main structure, as well as the exterior and interior of any outbuildings on site.

Step 3    We then walk through the house, draw up the floor plan, and take a picture of each room, the mechanical system, any basement finish, and unique characteristics of the house.

Step 4    Finally we discuss any and all updates that have been completed, and gather any information (such as the year the house was built), the homeowner might be able to pass on to us.

New Construction Appraisal

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For a New Construction, the inspection process is slightly different. The site is inspected and photographed. The blueprints are used for determining the size and layout of the house. The appraisal is completed 'As Proposed' according to the blueprints and the plans and estimates from the contractor.

Once the house is complete, the appraiser does a walk through inspection, taking pictures and noting any changes or modifications from the original plans. 

WHAT TO EXPECT FOR THE INSPECTION

Personal Solutions

From start to finish, we are dedicated to efficiency for new construction appraisals so you don't have to wait any longer to break ground.

We're committed to providing you with top notch appraisal service. We approach every assignment with a focus on integrity and accuracy.

Our company has a well-deserved reputation of excellence in providing thorough, sensible, and cost-effective appraisal reports for our clients.

CONFIDENTIALITY POLICY

BACK AT THE OFFICE

All appraisers have a responsibility to uphold the  Ethics Rule found in USPAP, (Uniform Standards of Professional Appraisal Practice) :         

   "An appraiser must not disclose: (1) confidential information; or (2) assignment results to anyone other than: the client; persons                    specifically authorized by the client; state appraiser regulatory agencies; third parties as may be authorized by due process of 

    law; or a duly authorized professional peer review committee..."

In addition to the restrictions by law, it is our policy at Advanced Appraisals PC to hold in high regard your privacy rights. We will not disclose to anyone outside our company, other than the client, any confidential information regarding your property, including the fact that we were at your property to complete an appraisal. 

Business Solutions

If you're a business owner, it's important to know what your property is worth. In the case of fire, an appraisal on file can get you operating that much quicker.

                  Advanced Appraisals, PC

                PO Box 355 , Iron Mountain, MI 49801

                                                       Phone: 906.282.4951

                 E-mail: AdvancedAPPC@Gmail.com

Quality

We offer high-quality appraisal reports and personal client service.

Once the inspection is complete, the appraiser needs to analyze the collected data and decide the best approach to determine market value for the subject property. There are three possible approaches to use: Sales Comparison, Income, and Cost Approach. It is at the appraiser's discretion which approach(es) are applicable and necessary to complete.

Sales Comparison Approach

The appraiser analyzes sales that are comparable to the subject property, adjusts for the differences, and reconciles the bottom line to determine the market value of the subject.

Income Approach

The appraiser determines the typical market rent for the subject and applies a gross rent multiplier to determine what an investor would pay for the subject property to determine the market value.

Cost Approach

The appraiser evaluates the cost to build the structure new, using local contractor estimates or a cost reference book. After applying appropriate depreciation, a market value can be ascertained.

One approach or all three approaches may be used. This is determined by the client's requirements, the type of property, and the age of the property. The appraiser then reconciles the applicable and completed approaches to determine one final market value for the subject.

real estate appraisers