TJR Appraisals

Frequently Asked Questions

How Long Does it Generally Take to Complete an Apprisal?

Are Appraisers Required to Have a Licensed?

Does a Certified Appraisal Qualify as a Home Inspections?

Where Do You Obtain Your Information on Properties?

Are Additions or Improvements Made to the Home Included in the Appraisal?

Will the Appraised Value effect the Value of the Tax Assessment?

What are the Difference Between a Comperative Market Analysis and a Certified Appraisal?

Am I Required to Provide Any Information for the Appraisal?

How Long Does it Generally Take to Complete an Apprisal?

At TJR Appraisals our turn around time is consistently 48 to 78 hours.

Prior to visiting the site the appraiser will look up the property on public record and the multiple listing service and identify the property to be appraised. Research of other properties within the subject's neighborhood and market area will also be identified prior to inspecting the property.

The physical inspection of the real property being appraised can take from approximately twenty minutes to several hours, depending upon the size and complexity of the assignment.

After the initial inspection of the property the appraiser will drive the through the neighborhood and market area reviewing and photographing other recent sales of properties comparable to the subject. The appraiser is generally looking for recent sales of similar square footage, age, design, appeal, and quality.

Sometimes the appraiser will discover after physical inspection of the subject property that the information on public record was incorrect. Subsequently the research completed prior to inspection is also not the best data available in comparison to the subject. The appraiser will have to return to the office and redo the research and return to the neighborhood/market area to view the sales and photograph which may be the same day or most likely a day or two later.

When good comparable sales have been located and photographed the remainder of work will be completed in the office. This is the final stage in completing an appraisal report. The typical residential report in this final stage will take two to four hours to be completed.

Are Appraisers Required to Have a License?

The state of Florida requires all real estate appraisers to be state licensed which requires them to complete rigorous education and experience requirements. They must follow strict industry standards and a professional code of ethics has been lead by the Appraisal Foundation. All of our Professional and experienced Appraisers are currently licensed by the state of Florida.

Does a Certified Appraisal Qualify as a Home Inspections?

The appraiser is not a licensed home inspector, plumber, engineer, architect, electrician, or air conditioning technician. The appraiser briefly walks through the house to get an idea of the general condition, home layout, and materials used to construct the home. An appraisal is not a guarantee of condition. The appraiser will interview the home owner asking questions about condition, repairs, and recent changes or additions to the property. The appraiser will do his/her best to quantify the effect of condition on value. If absolute condition is of concern, we recommend you seek the advice of qualified licensed tradesmen in those fields of expertise.

Where Do You Obtain Your Information on Properties?

The appraiser gets his or her information from a number of resources which include the local Multiple Listing Service, realtors, county public records, private data vendors, interviews with sellers and buyers in the market place, and his or her own personal knowledge of the market as well as files from previous appraisals.

Are Additions or Improvements Made to the Home Included in the Appraisal?

An appraiser will document the condition of the property on a property on a walk through basis both inside and out. The appraiser will take notes on size, quaility, parking, room count, general layout, quality, and features of the improvements.

The improvements will be measure for square footage of both the heated living area and other improvements outside of the heated and cooled areas. The subject will be photographed which typically consists of three photographs on the exterior (front, street, and rear) of the property. Sometimes a lender will require interior photos to be taken. The appraiser is looking at or appraising just the real property attached to the site. Personal property is not included in the appraisal. Items not permanently attached to the site such as lost cost storage buildings, above ground swimming pools, refrigerators, satellite dishes, furniture, etc...are typically considered personal property and not included in the estimate of fair market value.

Will the Appraised Value effect the Value of the Tax Assessment?

Your estimated value by the county appraiser is an independent evaluation of your property for tax purposes only. Your tax assessment will not go up or down as a result of the work completed by our office. We are required to maintain confidentiality with our client and not the county tax assessors office.

What are the Difference Between a Comperative Market Analysis and a Certified Appraisal?

A comparative market analysis or brokers listing price opinion is an informal estimate of market value based on their knowledge and/or comparable sales in the neighborhood.

A certified appraisal is a formal, impartial estimate or opinion of value, usually completed on a FNMA appraisal form in which the property is described and an estimated value conveyed at a specific point in time. It is completed as a result of payment that is NOT contingent upon any particular outcome. Certified appraisals can only be completed by professionals that have completed the education required by the state of Florida.

The single most important difference between a certified appraiser and a real estate agent is there objectivity. A certified appraiser has no alterior motivations as far as getting your listing and earning that commission. A certified appraisal is an objective third party opinion. Appraisers are paid a flat fee regardless of the outcome of his or her opinion. Real Estate agents commissions are based on the selling price of the home which may influence their opinion. Most real estate agents are trustworthy and dilligent but that is not always the case.

Am I Required to Provide Any Information for the Appraisal?

If available the following items are helpful but not always necessary to aid the appraiser in the analysis of your home.

1) Survey of the house and property

2) Deed or title report showing the legal description

3) Tax bill

4) Plans and Specs of home by an architect

5) List of recent improvements

If you have any further questions please don't hesitate to contact us!