What is “market value”?
Market value is the most probable price in a competitive open market that a property should bring.

When is an appraisal needed?
Whenever the value of property is being used to make a significant financial decision.

What is in a report?
The type of reports we offer vary, however most contain the following:

• The intended use of the report

• The client and users

• The purpose of the assignment

• The type of value reported

• The definition of the value reported

• The effective date of the appraisal opinions and conclusions

• Relevant property characteristics

• All known restrictions

• The scope of work used to complete the assignment

Where does an appraiser get the information needed to estimate value?

Research and data gathering is of utmost importance. Specific data is gathered about the property itself, including location, size, and condition. General data is taken from a number of resources including tax records and public documents. Most importantly, experienced appraisers have their knowledge from appraisals for other properties in the same market.