A commitment to the industry and the utilization of technology allows us to provide superior service to clients. We consistently seek to outperform our competitors by providing a superior appraisal product at a competitive cost and in a more efficient manner with our management systems.
At Appraisal Source, LLC we recognize the importance of every residential appraisal to the client and user. Every appraisal assignment, from simple to complex in scope, goes through a systematic review process in order to achieve the fundamental goal of credibility in the conclusion.
Each of our residential appraisers has a Certified Residential appraiser license, the highest level of residential appraiser licensing provided by each state, and has jurisdictional competency in markets where they practice. We take pride in our local market knowledge.
Our residential appraisal experience includes:
2 - 4 Unit Multifamily
Appraisal Source, LLC’s commercial appraisal practice provides expansive expertise in the valuation of a variety of commercial property types. We recognize that each appraisal assignment is important to the client. The same high quality appraisal development and reporting standards are applied to all ranges of property types, from small owner-user real estate to institutional property types. We take pride in our relationship-based communication practices, enhancing the overall credibility of each appraisal produced.
Our commercial appraisal experience includes:
Why do I need an Appraisal?
An appraisal is a valuation tool used by mortgage lenders to verify a property’s worth for prospective financing. The mortgage industry relies upon a qualified independent real estate appraiser to guide them in their financing decisions. But is this the only reason to get an appraisal? Many homeowners, assessor’s offices, attorneys, buyers and sellers utilize appraisals for a variety of needs:
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Private Mortgage Insurance or PMI is the supplemental insurance that many borrowers have to purchase when the amount being loaned is more than 80% of the value of the home (LTV loan to value). This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. After a rise in values and/or payment to principal goes below this 80% level PMI is no longer required. United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met. An appraisal is required to determine the property’s value. The costs of these services are recovered in just a few months of not paying the PMI.
Property Tax Assessments
Challenging the tax assessment has become a necessity in many parts of the country. Unfortunately, most people go into these challenges unarmed. They may pull some information from the Internet to support their claims, but have no real basis for their claims.
A real estate appraiser can provide the accurate answers to the question of value. While it may not be economical to commission a full appraisal to save a few hundred off your tax bill, often an appraiser can do a lesser scope appraisal for much less, yet with the same conclusions and integrity. An appraisal from a qualified appraiser would be a step in the right direction in any dispute with your local tax assessor.
In times of loss, it is often difficult to think of the various steps that must be taken to resolve any outstanding monies of the deceased. An appraisal is required to establish fair market values of any real estate properties in the estate for tax filings and any presentation to multiple heirs. The aid of an appraisal is a necessity to dispose of the estate properly
In unfortunate circumstances, such as divorce, appraisals are required so that both parties involved receive a fair and impartial value so that they can concentrate on more important aspects of this difficult time. An appraisal by a qualified independent professional third party is often required by state law to settle the divorce.
Feasibility – Land Utilization Studies
Often appraisers are required when towns are planning certain uses of land, rezoning, implementation of housing developments, traffic infrastructure, cost benefit analysis and a whole host of various projects. The appraiser’s responsibility to deliver an accurate appraisal report is a necessary response to the question of fair market value.
In addition to residential or commercial appraisal services, Appraisal Source also provides consulting, expert testimony, and valuation services related to: eminent domain and condemnation property transactions, partition suits, foreclosures, and zoning issues, market rent and trend studies, cost / benefit property and remodeling investment analysis, as well as supply and demand studies.