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- Appraisers are either privately employed or self-employed. As a general rule of thumb, privately employed appraisers work a standard 40-hour work week. Self-employed appraisers, also known as "independent fee appraisers," work more than a standard 40-hour work week. Appraisers work during daylight hours and according to your schedule.
- Appraisers go by total square footage when appraising a house. The appraiser uses a standard measuring tape or a measuring wheel to measure every wall on the outside of the house and every room inside. An appraiser may forgo physically measuring your house if either a previous appraisal report or a prior mortgage survey is available.
- Appraisers evaluate the condition of your home and its systems. For example, the appraiser evaluates the condition of your floors and takes note of structural improvements like new linoleum siding. Your home's water, sewage and electrical systems also play a vital role in your home's appraisal. For example, the appraiser looks for damage to your home's water system. If damage is visible, your home will generally receive a lower appraisal value than property with a water system in good to excellent condition.
- Property features contribute to the overall value of your home. Examples include central air conditioning, a sprinkler system and a gas fireplace. Current and future sales indexes also factor into the overall value of your home. Appraisers look at the prices for which similarly sized homes in your neighborhood sold within the last six months.
- All of the appraiser's findings are documented in a final appraisal report. Request the appraisal report for your records and have a copy forwarded to your bank or accountant.
Appraisers
Total Square Footage
Property Condition
Property Features
Appraisal Report
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