We give personalized expectations for each assignment. Real Estate Appraisal is a generally seasonal market so available time frames can fluctuate typically between one or two weeks. Delivery can be made in as little as a single day with an additional fee if there's limited complexity. More complex properties and markets need more time and research of course. 

The cost of an appraisal can vary depending on several factors. Some aspects that can potentially add to the complexity of report writing would be unique home designs, uncommon features, over-improvement, functional obsolescence, a lack of market data, and the distance from Oklahoma City. We also have a few different report types available that can increase and decrease the cost of our services. A typical "1004" style report can often cost $500. If you plan to do multiple reports, please ask about our investor-friendly 704 option. 

Each individual market can respond to improvements differently. Some areas will value having new windows and others may place more value for installing a swimming pool. Please let me know at the beginning of an assignment what features you're considering and I can give more information about what specific things can give you the most return.  

Absolutely. I'm trained in several forms of property measurement including the American Measurement Standard (AMS), American National Standards Institute (ANSI® Z765), as well as the practices of local county assessor's offices which tend to use a mixture of methods. The central Oklahoma MLSOK system requires property measurements to come from the county assessor's records, building plans, or from an appraiser's measurements. 

While the map on this site shows some of the areas that we are most comfortable with, We can still handle some of the outlying areas with a little more effort and time. If our schedule would delay your results, we'll often provide a list of other appraisers more proximate to your location.

Typically the inspection for an appraisal will last around 45 minutes. Scheduling is often set in "windows" with an arrival time range of around 30 minutes. Photos will be taken of each room in each structure on the property, and measurements will be taken for the main structures. Vacuuming and making the beds will have no direct effect on value, so don't worry too much about it. Access will need to be provided for the attic, so if there's a scuttle entry, make sure a ladder is available. the hot water tank, breaker panel, and HVAC unit will also need to be accessed. 

If the report is for an FHA level of inspection appliances will need to be tested as well as a sample of the electrical and water systems. If you'd like an FHA level of inspection (typically asked for in preparation for a pre-sale listing), please ask about some of the most common requirements ahead of the inspection. 

A comparable sale refers to a property that bears similarities to the subject property in various aspects, including location, property type, features, and condition. The term "arms length" signifies that the transaction was conducted under typical market conditions, without any undue influence or relationship between the buyer and seller.

The process of selecting comparable sales is deemed crucial in determining the property's fair market value, particularly in residential appraisals. Thus, it falls under the purview of the appraiser to conduct thorough research on the local real estate market and identify suitable properties that closely resemble the subject property in terms of value characteristics. Federal lending guidelines add some requirements to what may constitute as a comparable sale.

Market value or fair market value is the most probable price that a property should bring (will sell for) in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised; (3) a reasonable time is allowed for exposure to the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. 

The Appraisal Standards Board (ASB) sets forth the rules for developing an appraisal and reporting its results. In addition, it promotes the use, understanding, and enforcement of the Uniform Standards of Professional Appraisal Practice (USPAP). FIRREA requires that real estate appraisals used in conjunction with federally-related transactions be performed in accordance with USPAP. More than 80,000 state-certified and licensed appraisers are currently required to adhere to USPAP. USPAP contains the recognized standards of practice for real estate, personal property, and business appraisal.

The authority of USPAP extends beyond FIRREA. Since 1992, the Office of Management and Budget (OMB) has required federal land acquisition and direct lending agencies to use appraisals in conformance with USPAP.

If your appraisal report was performed as a part of a lending transaction, the report is the property of the lender. This can be confusing since the lender will often charge the borrower for the appraisal. This amount charged will often not correlate to the fee paid to the appraiser. Due to the confidentiality required by Uniform Standards of Professional Appraisal Practice (USPAP), the appraiser can only speak freely about assignment results with the client (or sometimes a management company). 

For a typical interior inspection please make sure that the lights can be turned on, gates are unlocked, and interior doors can be accessed. You don't have to make the beds and cleaning won't have any effect on the value of the property as long as areas are clearly visible.

If you have access to the original building plans, or an old appraisal if can help in the speed of creating your report as well as aiding in the accuracy.